Senate Amendment 5156


PAG LIN




     1  1    Amend House File 2489, as passed by the House, as
     1  2 follows:
     1  3 #1.  Page 20, by inserting after line 25, the
     1  4 following:
     1  5    <Sec.    .  NEW SECTION.  514A.3A  REFUND OF
     1  6 UNEARNED PREMIUM UPON DEATH OF INSURED.
     1  7    In the event of the death of the insured of any
     1  8 policy covered by this chapter, the insurer, upon
     1  9 receipt of notice of the insured's death supported by
     1 10 a certified copy of a valid death certificate and a
     1 11 request for a pro rata refund by a party entitled to
     1 12 claim such a refund, shall refund the unearned premium
     1 13 prorated to the month of the insured's death.  Refund
     1 14 of the premium and termination of the coverage shall
     1 15 be without prejudice to any claim originating prior to
     1 16 the date of the insured's death.  The commissioner of
     1 17 insurance shall adopt by rule the minimum amount
     1 18 required for issuance of a refund.>
     1 19 #2.  Title page, line 7, by inserting after the
     1 20 word <association;> the following:  <refunds of
     1 21 unearned premium;>.
     1 22
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     1 24                               
     1 25 COMMITTEE ON COMMERCE
     1 26 JERRY BEHN, CHAIRPERSON
     1 27 HF 2489.301 80
     1 28 av/cf
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