PRINTER'S NO. 644
No. 582 Session of 1989
INTRODUCED BY ARGALL, BOYES, J. L. WRIGHT, ITKIN, NOYE, JOHNSON,
TIGUE, E. Z. TAYLOR, FOX, BURD, MRKONIC, PETRARCA, BARLEY,
VEON, HALUSKA, MORRIS, REBER, GANNON, FARGO, ANGSTADT, GEIST,
CIVERA, McHALE, WOZNIAK, FREEMAN, DIETTERICK, RAYMOND,
KAISER, REINARD, OLASZ, BELARDI AND BISHOP, FEBRUARY 15, 1989
REFERRED TO COMMITTEE ON INSURANCE, FEBRUARY 15, 1989
AN ACT
1 Amending the act of May 17, 1921 (P.L.682, No.284), entitled "An
2 act relating to insurance; amending, revising, and
3 consolidating the law providing for the incorporation of
4 insurance companies, and the regulation, supervision, and
5 protection of home and foreign insurance companies, Lloyds
6 associations, reciprocal and inter-insurance exchanges, and
7 fire insurance rating bureaus, and the regulation and
8 supervision of insurance carried by such companies,
9 associations, and exchanges, including insurance carried by
10 the State Workmen's Insurance Fund; providing penalties; and
11 repealing existing laws," requiring notices to policyholders
12 concerning the servicing of policies.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. The act of May 17, 1921 (P.L.682, No.284), known
16 as The Insurance Company Law of 1921, is amended by adding a
17 section to read:
18 Section 357. Notices to Policyholders.--Whenever a life or
19 health and accident company changes its name, is sold or merged
20 or consolidated, relocates its home office or assigns its
21 liabilities, it shall provide written notice to each
1 policyholder with instructions as to where the policy will be
2 serviced.
3 Section 2. This act shall take effect in 90 days.
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