Pennsylvania Code
Title 31 - INSURANCE
Part II - Automobile Insurance
Chapter 67b - MANDATORY OFFER TO WRITE NONSURCHARGED PRIVATE PASSENGER NONFLEET RISKS
Section 67b.3 - Take-out notice
Current through Register Vol. 54, No. 44, November 2, 2024
(a) The assigned company shall mail a take-out notice to all eligible private passenger nonfleet automobile risks.
(b) The take-out notice must offer to write the same coverages afforded by the Plan policy the assigned company is offering to replace for 1 year.
(c) An insured accepting take-out from the assigned company is not required to select the kinds and amounts of coverage specified in the take-out notice, but may select other kinds and amounts. However, the kinds and amounts of coverage selected by the insured shall be sufficient to maintain financial responsibility under 75 Pa.C.S. § 1702 (relating to definitions).
(d) The take-out notice shall inform the insured that acceptance of take-out is not mandatory, and that the insured may shop for coverage in the voluntary market or remain in the Plan under § 67b.6 (relating to right of insured to reapply to Plan).
