Plain English Breakdown
The official source does not specify what changes will be studied or provide an exact effective date for the law.
A Law About Insurance Changes
This law requires the Insurance Commissioner to study changes needed in insurance rules and report back by January 1, 2027.
What This Bill Does
- Requires the Insurance Commissioner to conduct a study concerning various revisions to the insurance statutes.
- The commissioner must submit a report on the results and recommendations of such study before January 1, 2027.
- The report should be given to the General Assembly's joint standing committee on insurance.
Who It Names or Affects
- Insurance Commissioner
- General Assembly’s joint standing committee on insurance
Terms To Know
- Insurance Commissioner
- The person in charge of overseeing and regulating the insurance industry in a state.
- General Assembly
- The main law-making body of a state, made up of two parts: the Senate and the House of Representatives.
Limits and Unknowns
- Does not specify what changes to insurance laws will be studied.
- No fiscal impact is expected as the department already has the expertise to complete this task.
- The exact date when the law takes effect is not provided in the summary text.