SB 841 Summary

• Repeals and replaces Section 38a-1 defining insurance terminology, effective October 1, 2021, with updated definitions for terms like affiliate, insurer types, annuities, and control.

• Prohibits insurers, health care centers, and fraternal benefit societies from requesting, requiring, or using direct-to-consumer genetic testing information or conditioning insurance rates on genetic testing results without informed written consent, effective October 1, 2021.

• Expands unfair insurance practices under Section 38a-816 to include violations related to genetic information discrimination and adds late claim payment penalties of 15% annual interest for unpaid accident and health claims.

• Establishes homeowners insurance cancellation procedures requiring 10-30 days written notice depending on policy duration and cancellation reason, with limitations on cancellation grounds after 60 days in effect, effective July 1, 2021.

• Reduces insurance producer license course requirements from 40 hours to 20 hours per line of insurance and updates credit life insurance definitions to include loss ratio calculations, both effective October 1, 2021.