Source: http://wvlegislature.gov/legisdocs/chamber/2019/RS/com_amends/HB2690%20H%20B_I%20AM%20_1.htm
Timestamp: 2019-09-16 05:07:40
Document Index: 800124085

Matched Legal Cases: ['§33', '§33', '§33', '§33', '§29', '§33', '§33', '§29', '§33']

HB2690 H B&I AM #1
The Committee on Banking and Insurance moved to amend the bill on page 1, after the enacting clause, by striking the remainder of the bill and inserting in lieu thereof, the following:
“ARTICLE 26A. WEST VIRGINIA LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION ACT.
(b) Within 180 days of the effective date of this article, the association shall prepare a summary document describing the general purposes and current limitations of the act and complying with §33-26A-19(c) of this code. This document should shall be submitted to the commissioner for approval. Sixty days after receiving such approval, no member insurer may deliver a policy or contract described in §33-26A-3(b)(1) of this code to a policy owner, contract owner, certificate holder, or enrollee unless the summary document is delivered to the policy owner, contract owner, certificate holder, or enrollee prior to or at the time of delivery of the policy or contract. except if §33-26A-19(d) of this code applies The document should shall also be available upon request by a policy owner, contract owner, certificate holder, or enrollee. The distribution, delivery, or contents or interpretation of this document shall not guarantee that either the policy or the contract or the policy owner, contract owner, certificate holder, or enrollee is covered in the event of the impairment or insolvency of a member insurer. The description document shall be revised by the association as amendments to the article may require. Failure to receive this document does not give the policy owner, contract owner, certificate holder, enrollee, or insured any greater rights than those stated in this article.
(c) The document prepared under §33-26A-19(b) of this code shall contain a clear and conspicuous disclaimer on its face. The commissioner shall propose rules for legislative approval in accordance with the provisions of §29A-3-1 et seq. of this code establishing the form and content of the disclaimer. The commissioner shall establish the form and content of the disclaimer. The disclaimer shall:
(d) An insurer or agent may not deliver a policy or contract described in §33-26A-3(b)(1) of this code and excluded under §33-26A-3(b)(2)(A) of this code from coverage under this article unless the insurer or agent, prior to or at the time of delivery, gives the policy owner, contract owner, certificate holder, or enrollee a separate written notice which clearly and conspicuously discloses that the policy or contract is not covered by the association. The commissioner shall propose rules for legislative approval in accordance with the provisions of §29A-3-1 et seq. of this code specifying the form and content of the notice. A member insurer shall retain evidence of compliance with §33-26A-19(b) of this code for so long as the policy or contract for which the notice is given remains in effect.”