MT SB530

Increases the required notice period for insurance policy cancellations and nonrenewals from 45 days to 90 days for property and casualty, motor vehicle liability, and homeowner's insurance policies

Requires insurers to automatically provide the specific reasons for cancellation or nonrenewal in the notice itself, eliminating the previous requirement that insureds must request this information

Grants policyholders the right to cure deficiencies identified in nonrenewal notices and requires insurers to consider those curative actions before finalizing nonrenewal decisions

Applies to policies longer than one year with anniversary cancellation clauses, as well as renewals with altered terms, higher rates, or higher rating plans

Maintains existing exceptions for cancellations due to nonpayment of premium, which retain shorter notice periods of 10-20 days