40-2,122. Cancellation or nonrenewal of policy; written explanation required.
40-2,122
40-2,122. Cancellation or nonrenewal of policy; written explanation required.Any insurance company doing business in this state shallprovide to an insured a written explanation specifically detailingthe reasons why such company canceled or denied renewal of an existingpolicy of insurance.There shall be no liability on the part ofand no cause of action of any nature shall arise against any insurer, itsauthorized representative, its agents, its employees, or any firm, personor corporation furnishing to the insurer information as to reasons forcancellation or denial of renewal of an existing policy of insurance, forany statement made by any of them in any written notice of cancellation ordenial of renewal of an existing policy of insurance, for the providing ofinformation pertaining thereto, or for statements made or evidencesubmitted at any hearings conducted in connection therewith, if suchinformation was provided in good faith and without malice.
History: L. 1986, ch. 168, § 3; July 1.