Insurance Law 2345 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 2344 Flexible rate limitations in problem markets up ARTICLE 23 Property/casualty Insurance Rates next SECTION 2346 Reduction in rates of fire insurance, homeowners insurance or property/casualty premiums for residential property Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 2345 Disclosure of premium reductions and surcharges Insurance (ISC) CHAPTER 28, ARTICLE 23 § 2345. Disclosure of premium reductions and surcharges. (a) Every authorized insurer shall specify the nature of each premium reduction or surcharge applied on a non-commercial motor vehicle insurance policy. (b) The insurer shall also specify the total dollar amount attributable to all surcharges and the dollar amount attributable to each reduction. (c) The disclosures shall be made on either the premium bill, the declarations page or a notice accompanying the premium bill or the declarations page, when the surcharge or reduction is initially made and thereafter at each policy renewal.