Bills › 90th General Assembly
Relating to value-added products or services offered by insurers or producers
Sponsored by the Senate Commerce Committee
Topics:Insurance
Where it is now
- Done: IntroducedFebruary 13, 2023
- Done: SubcommitteeFebruary 13, 2023
- Done: Senate committeeFebruary 23, 2023
- Done: Passes the SenateMarch 22, 202349–1
- Skipped: House committeeSkipped
- Done: Passes the HouseFebruary 22, 202395–0
- Done: To the GovernorApril 26, 2023
- Done: Signed into lawApril 27, 2023
HF 316 became law → The same legislation passed as HF 316, so this version was set aside. Go to HF 316 What’s a funnel?
What’s in it
AI summary Insurance companies and producers can now offer extra products or services to their customers for free or at a lower cost without it being considered an illegal rebate. These special offers must be related to the insurance policy and must be available to all customers based on fair, documented rules. If a company wants to test a new service, they can run a pilot program for up to one year after notifying the commissioner of insurance.1
Read the official explanation
This bill relates to value-added products or services offered by insurers or producers.4, if the product or service that is offered relates to the policy that is offered and is designed primarily to accomplish at least one of the criteria detailed in the bill. The cost to the insurer of offering the product or service to a customer must be reasonable in comparison to the customer’s premiums and insurance coverage for the policy class. “Customer” is defined in the bill as a policyholder, potential policyholder, certificate holder, potential certificate holder, an insured, a potential insured, or an applicant. If the insurer provides the product or service offered, the insurer shall ensure that the customer is provided with contact information for customer service or technical support personnel who can assist the customer with questions. The availability of the product or service shall be based on documented objective criteria and the product or service must be offered to all customers in a nondiscriminatory manner. The documented criteria shall be maintained by the insurer and provided to the commissioner of insurance upon request. If an insurer does not have sufficient objective criteria, but has a good-faith belief that the product or service meets the criteria specified in the bill, the insurer may offer or provide the product or service in a nondiscriminatory manner to customers as part of a pilot or test program for up to one year. Prior to launching the pilot or test program, the insurer must notify the commissioner. If the commissioner does not object to the pilot or test program within calendar days from the date of notice, the insurer may proceed with the pilot or test program.4(3)(i)(2).
Senate subcommittee
Named February 13, 2023 (as SSB 1150). On February 21, 2023 it recommended passage. [].
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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90th General Assembly