Can we get the requirement to send legal notice for ANY premium increase overturned now? In the past, notice was only required if the increase was greater than 20%. Even it was changed so that notice would be required if the increase was greater than 10% would help ease the burden on the carriers and reduce expenses. The new regulation is putting an undue hardship on the carrier and independant agent as it is a bureaucratic nightmare.
Can we get the requirement to send legal notice for ANY premium increase overturned now? In the past, notice was only required if the increase was greater than 20%. Even it was changed so that notice would be required if the increase was greater than 10% would help ease the burden on the carriers and reduce expenses. The new regulation is putting an undue hardship on the carrier and independant agent as it is a bureaucratic nightmare.