RELATING TO INSURANCE.

The general effective date of the Act was changed to July 1, 3000, while specific sections regarding premium explanations and producer licensing retain an effective date of January 1, 2027.

Text was updated to clarify that license revocation grounds include being denied or revoked in any other state, province, district, or territory, removing the word 'placed' before 'on probation' in one instance.

The requirement for purchase groups to pay service fees was clarified to state that registration may not be reinstated until fees and penalties are paid.

Metadata headers, bill numbers, and report titles were updated to reflect the bill's progression from the Committee stage to the House stage.

Insurers must now reasonably explain premium increases upon written request by the policyholder for any premium increase at renewal.

Notice periods for cancelling or nonrenewing residential property insurance policies were adjusted to ensure clarity on minimum days required before cancellation or nonrenewal takes effect.

Grounds for denying, suspending, or revoking licenses now explicitly include misrepresenting terms of an actual insurance contract and having an adjuster or independent bill reviewer license denied or revoked in another jurisdiction.

The commissioner's authority to enforce penalties against purchasing groups under investigation was clarified to apply even if the group's registration has lapsed.

Most provisions take effect on January 1, 2027, except Section 7 regarding statutory material repeal, which takes effect upon approval.