Each property and casualty insurer that, at the time of policy renewal, transfers any policy to an affiliate as a result of a merger or acquisition of control, shall provide notice to policyholders at least sixty days prior to the effective date of transfer. Such transfer shall not require a nonrenewal or cancellation of the policy.
(P.A. 98-64; P.A. 06-109, S. 1; P.A. 15-118, S. 41.)
History: P.A. 06-109 provided that transfer shall not require cancellation of the policy; P.A. 15-118 made a technical change.