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OH SB115
Bill
Status
Introduced
3/9/2015
Primary Sponsor
Kevin Bacon
Click for details
AI Summary
- Enacts the "Certificates of Insurance Act" to regulate documents prepared by insurers or insurance agents that verify property or casualty insurance coverage purchase
- Establishes that certificates of insurance are not actual insurance policies and cannot create new rights, alter coverage, or amend the referenced policy
- Prohibits certificates from containing false, misleading, deceptive, or unfair language and prevents altering the actual insurance coverage terms
- Certificate holders entitled to cancellation or nonrenewal notices only if named in the policy itself; notice terms governed by the actual policy, not the certificate
- Superintendent of Insurance may issue cease-and-desist orders or assess civil penalties up to $1,000 per violation; violating certificates are void
Legislative Description
Regulates certificates of insurance verifying insurance coverage
Commerce : Insurance
Last Action
Reported - Substitute: Insurance
6/16/2015
Committee Referrals
Insurance3/10/2015
Full Bill Text
No bill text available