CT SB00198

Extends premium billing notice period from 30 days to 60 days in advance of policy renewal or anniversary date for personal and commercial risk insurance policies, except workers' compensation policies.

Exempts commercial risk policies from the 60-day notice requirement if the premium increase is less than 10 percent annually and applies only to policies with annual premiums under $50,000.

Requires insurers to send nonrenewal notices at least 60 days in advance with specified reasons, except for nonpayment of premium or failure to pay advance premiums; professional liability policies require 90 days' notice.

Entitles insureds to policy renewal for at least one year or pro-rata cancellation at the lower current or previous year rates if insurers fail to provide required notices within 60 days of renewal date.

Extends surplus lines insurers' premium billing notice requirement to 60 days and provides 90-day policy extension if notices are not provided, with premiums at the lower of current or previous rates.

Takes effect October 1, 2020.