HB 1027 Summary

• Removes the requirement that an insurance producer's name be included in written notices to insureds about changes to residential property insurance policies.

• Requires insurers to notify policyholders in writing when coverage is reduced, restricted, or removed through riders or endorsements, sent via U.S. mail or electronic means.

• Notice must be a separate document in at least 12-point type with readable text meeting a Flesch reading ease score of 40, identifying changed forms and whether premiums will adjust.

• Notice must include only the insurer's name and contact information (not the producer's), and describe options to repurchase removed coverage.

• Applies to Indiana residential property policies covering up to four residential units or personal property used within a residential dwelling, effective July 1, 2011.