This bill amends the Code of West Virginia to enhance communication between insurers and policyholders regarding property and casualty insurance. It modifies existing notification requirements by allowing insurers to use Intelligent Mail barcodes (IMb) for sending written notices of cancellation and renewal intentions to policyholders. Specifically, it mandates that these notices include the effective date of cancellation and the reasons for such actions. Additionally, the bill stipulates that insurers must provide explanations for nonrenewals and transfers of policies, ensuring that policyholders are well-informed about changes to their coverage.

Furthermore, the bill introduces a new section that permits insurers to post standard property and casualty insurance policies and endorsements on their websites, rather than mailing them. This electronic posting must comply with specific conditions, such as ensuring accessibility, archiving documents for five years, and allowing policyholders to print and save copies. Insurers are also required to notify policyholders about how to obtain paper or electronic copies of their policies and any changes to the forms. Overall, the bill aims to modernize the communication process in the insurance industry while maintaining transparency and accessibility for policyholders.

Statutes affected:
Introduced Version: 33-17A-4, 33-18-2