§33-53-4. Limitations on Use
(a) A person may not: (1) Prepare, issue, or request or require the issuance of a certificate of insurance that contains any false or misleading information concerning the policy of insurance to which the certificate of insurance refers; or
§33-53-5. Notice Requirements
A person is entitled to notice of cancellation, nonrenewal, or any material change, and to any similar notice concerning a policy of insurance only if the person has such notice rights under the terms of the policy of insurance or any endorsement to the policy. The terms and conditions of the notice are governed by […]
§33-53-6. Applicability
(a) The provisions of this article apply to all certificates of insurance issued in connection with a property or casualty insurance policy issued or renewed on or after July 1, 2020, and in connection with property, operations, or risks located in this state, regardless of where the policyholder, insurer, insurance producer, or person requesting or […]
§33-52-7. National Association of Insurance Commissioners and Third-Party Consultants
(a) The commissioner may retain, at the insurers expense, third-party consultants, including attorneys, actuaries, accountants and other experts not otherwise a part of the commissioners staff as may be reasonably necessary to assist the commissioner in reviewing the CGAD and related information or the insurers compliance with this article. (b) Any persons retained under subsection […]
§33-52-8. Sanctions
Any insurer failing, without just cause, to timely file the CGAD as required in this article shall be required, after notice and hearing, to pay a penalty of up to $1,000 for each days delay, to be recovered by the commissioner. Any penalty so recovered shall be paid into the General Revenue Fund of this […]
§33-52-9. Effective Date
The requirements of this article are effective on January 1, 2020. The first filing of the CGAD shall be in 2020.
§33-53-1. Short Title
This article shall be known as the “Certificates of Insurance Act”.
§33-53-2. Definitions
For purposes of this article: “Certificate of insurance” means a document or instrument, regardless of how titled or described, that is prepared or issued by an insurer or insurance producer as evidence or confirmation of the existence of property or casualty insurance coverage. The term does not include a statement of declaration, policy of insurance, […]
§33-53-3. Certificate Forms
(a) The Commissioner of Insurance shall prohibit the use of a certificate of insurance form if the form: (1) Is unfair, misleading, or deceptive, or violates public policy; or
§33-52-4. Contents of Corporate Governance Annual Disclosure
(a) The insurer or insurance group shall be as descriptive as possible in completing the CGAD, with inclusion of attachments or example documents that are used in the governance process, since these may provide a means to demonstrate the strengths of their governance framework and practices. (b) The CGAD shall describe the insurers or insurance […]