An Act relative to notifying broker prior to termination of coverage

This bill requires insurers to notify an agent of record at least 21 days before lapsing life, disability, or long-term care insurance policies, directly affecting insurance agents and policyholders. Insurers must send the notice via mail, email, or electronic delivery to the agent’s listed address, but the agent is not held responsible for preventing the lapse. Exceptions apply if the insurer uses an automated system to notify brokers, has no current agent record, or the agent works for the insurer or its affiliate. The law aims to give agents time to address coverage issues before policies lapse.