HB 5211 Summary

• Adds new section 2111f requiring automobile insurers to include the full premium amount reflecting catastrophic claims association assessments in the initial premium payment for policies providing security under section 3101(1).

• Prohibits insurers from refunding the portion of initial premium that comprises catastrophic claims association assessments when a policy is canceled, except when canceled for specific enumerated reasons in section 3020(2)(c).

• Modifies section 3020 to clarify that minimum premium retention rules for automobile insurance do not apply when a policy is canceled because the insured no longer requires security or has replaced coverage with another insurer's policy.

• Applies the non-refundable assessment premium requirement to any policy providing security required under section 3101(1), unless canceled for the enumerated exceptions.

• Takes effect 90 days after enactment.