40-973. Same; effect on existing policy, limitation on. - Kansas Statutes

40-973

Chapter 40.--INSURANCE Article 9.--GENERAL PROVISIONS RELATING TO FIRE INSURANCE COMPANIES

      40-973.   Same; effect on existing policy, limitationon.Within the limitation specified inK.S.A. 2009 Supp.40-970, and amendmentsthereto, no rateincrease may be implemented with regard to an individual existing policy,unless such increase isapplied at the time of a renewal or conditional renewal of an existing policyand the insurer mailsor delivers to the named insured, at the address shown in the policy, a writtennotice that clearly andconspicuously discloses its intention to change the rate, at least 30 days inadvance of the end of theinsured's policy period. A notice of renewal or conditional renewal thatclearly and conspicuouslydiscloses the renewal premium applicable to the policy shall be deemed tocomply with this section.

      History:   L. 2008, ch. 144, § 5; July 1.