An Act relative to notifying broker prior to termination of coverage

This bill requires insurers to notify an insurance agent (broker) of record at least 21 days before a life, disability, or long-term care insurance policy lapses, or send a copy of the notice to the agent. It directly affects insurance agents/brokers and policyholders whose agents are listed with the insurer. Exceptions include when insurers use automated online systems to notify brokers directly, have procedures allowing brokers to check lapse notices independently, lack the agent's current contact information, or if the agent works for the insurer. The law aims to give brokers time to act on behalf of policyholders before coverage ends, without making brokers liable for the lapse.