Pennsylvania Code
Title 31 - INSURANCE
Part VI - Mutual Insurance
Chapter 107 - ASSESSMENT PROVISIONS IN MUTUAL INSURANCE COMPANY POLICIES
Section 107.7 - Compliance with this chapter
Current through Register Vol. 54, No. 44, November 2, 2024
(a) Compliance may be made by issuance of riders to the policy or by amendment of the policy itself. After the effective date of this chapter, no new policy forms will be approved which do not comply with this chapter. All policies issued after December 31, 1977, must include the required terms in the policy itself, rather than by rider or endorsement.
(b) Present supplies of policy forms may, if endorsed by approved riders incorporating the assessment conditions, be used by all companies until exhausted or until December 31, 1977, whichever occurs first.
(c) New policy or rider forms shall be submitted to the Insurance Department for review. Approval thereof shall be obtained prior to the use of such forms for any purpose.
(d) This chapter shall become effective February 1, 1975.
