The winding down mode has started. Local malls are already decked out for the holidays, and the retail industry is awaiting the much anticipated and beloved "Black Friday." In the insurance industry, those essentially year-long legislative sessions, while already having delivered gifts wrapped up as "acts," still hold potential holiday surprises. A brief look back at some enacted bills in Midwestern states with lengthy sessions—Illinois, Michigan, and Wisconsin—provides us with some key changes, as well as anticipation of what might be in store in the coming months.
Illinois legislative activity reminds us that this was just one of the many states this year that enacted a version of the Portable Electronics Insurance Act, with its Act 366. This type of insurance, generally offered to the consumer by a vendor authorized under the individual state's statutory provisions limited lines insurance licensing process, requires certain disclosures. These can include the identity of the insurer underwriting the coverage, claims filing information, as well as a statement that the insurance purchase is not a requirement of the sale or lease of the device and that coverage may duplicate existing coverage under a personal homeowners' or renters' policy.
Navigating Auto Underwriting
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