summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation relative to preventing fraud in life and accident and health insurance policies. Financial Services.
AI Summary
This bill amends Chapter 175 of the General Laws to prevent insurance companies from being barred by the passage of time from asserting that statements made in a life, accident, or sickness insurance policy application were fraudulent and made with the intent to gain coverage the applicant would not have otherwise qualified for. The bill allows insurers to bring an action for rescission of the policy within three years of discovering the fraud. It applies to all life and accident and health policies issued or delivered in the Commonwealth after the effective date of the act, as well as any policy that has not yet become incontestable.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see S2543 (on 02/18/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/S643 |
| Bill | https://malegislature.gov/Bills/191/S643.pdf |
Loading...