This bill makes amendments to the Producer Licensing Act to update definitions and add new requirements for insurers and insurance producers. It requires insurers to notify the insurance commissioner within 30 days of terminating a business relationship with an insurance producer and provides immunities for insurers, producers, and the commissioner from civil liability. The bill also addresses confidentiality of documents and information obtained by the commissioner and amends the cost of examinations for insurance companies.

In addition, the bill introduces new sections to existing laws related to insurance. It requires insurers to appoint insurance producers and pay an appointment fee, prohibits discrimination in insurance premiums based on race, color, creed, national origin, or disability, and establishes a legal framework for the sale of pet insurance. The bill also proposes amendments to pet insurance policies, including disclosure requirements, the right to examine and return policies, and guidelines for claim payments and waiting periods. The bill aims to regulate the pet insurance industry and provide penalties for violations.

Statutes affected:
697  SUB A: 27-13.1-7
697: 27-10-1.1, 27-13.1-7, 42-14-5