HB8 Summary

• Requires insurers to provide written notice at least 30 days before canceling or not renewing property insurance policies issued or renewed after January 1, 2026, with only 10 days' notice required for nonpayment if a named creditor loss payee exists.

• Prohibits cancellation notices from being effective unless based on specific grounds including nonpayment of premium, material misrepresentation, policy term violations, fraudulent claims, loss of required group membership, or substantial property defects.

• Defines "affiliate transfer" as a renewal when an insurer transfers policies to a related licensed insurer and issues substantially similar coverage, exempting such transfers from standard cancellation and nonrenewal notice requirements.

• Requires insurers to notify the Insurance Commissioner at least 60 days before implementing coverage restrictions or category-based nonrenewals affecting groups of policyholders, and to notify affected policyholders at least 30 days in advance.

• Becomes effective October 1, 2024, and does not apply to government entities or state, county, and local government organizations; provides immunity from liability for insurers and their representatives regarding cancellation notices and information provided.