Pennsylvania Code
Title 31 - INSURANCE
Part VII - Property, Fire and Casualty Insurance
Chapter 113 - MISCELLANEOUS PROVISIONS
Subchapter G - INCREASE IN PREMIUM AND MIDTERM CANCELLATION OR NONRENEWAL OF COMMERCIAL PROPERTY AND CASUALTY POLICIES
Section 113.82 - Notice of premium increase

Universal Citation: 31 PA Code ยง 113.82

Current through Register Vol. 54, No. 44, November 2, 2024

(a) Insurers shall provide the named insured advance notice of any increase in renewal premium at least 30 days before the upcoming policy renewal date.

(b) An insurer may authorize its agents to provide the notice of premium increase to the named insured. The insurer is responsible for the agent's failure to provide a notice of premium increase 30 days or more in advance of policy renewal.

(c) A notice of premium increase shall be provided to the named insured when a policy is issued by an insurer of a group of affiliated insurers that supersedes a policy issued by an insurer from the same group of affiliated insurers, and the premium will increase as a result of the superseding policy.

(d) Insurers are responsible for documenting that advance notice was provided to the named insured. Insurers may satisfy this requirement by doing one of the following:

(1) Maintaining a copy of the advance written notice provided to the named insured.

(2) Documenting its file to reflect the date and time advance notice was provided to the named insured.

(3) Providing documentation from its agent reflecting compliance with either paragraph (1) or (2).

(4) Providing other documentation such as renewal offers or other methods which are accepted and common within the industry as would reasonably demonstrate compliance. The documentation will be evaluated at the sole discretion of the Department.

Disclaimer: These regulations may not be the most recent version. Pennsylvania may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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