October 9, 2019
The state Senate approved a bill on Tuesday that would cut from 60 days to 45 days the advanced notice that insurers are required to give policy holders about premium increases.
The insurance industry gave more than $1.9 million in individual, corporate and political action committee (PAC) contributions to current legislators between January 2011 and July 2018. That includes about $965,600 to the current 33-member state Senate and its two legislative campaign committees. The top recipients of insurance industry contributions in the Senate were:
Committee to Elect a Republican Senate, $256,222
State Senate Democratic Committee, $125,699
GOP Senate Majority Leader Scott Fitzgerald, $94,721
Republican Sen. Alberta Darling, of River Hills, about $78,000
GOP Senate President Roger Roth, of Appleton, $48,195
Top contributors from the industry between January 2011 and July 2018 to current state senators were:
Northwestern Mutual Life Insurance PAC, $147,200
WI Insurance Alliance PACs and corporation, $102,340
Alliance of Health Insurers PAC and corporation, $50,000
WI Insurance & Financial Advisors PAC, $49,000
Humana PACs, $42,250
In addition to the WI Insurance Alliance, the other PACs and corporations controlled by companies or groups on record as supporting SB289 and their contributions to current state senators were:
American Family PAC, $22,850
State Farm’s corporation, $17,100
Property Casualty Association of America PACs, $9,250
Current law requires insurers who offer to renew policies on less favorable terms or with a premium increase of at least 25 percent to notify policyholders about the new terms or the increased premium at least 60 days prior to the policy’s renewal date. The bill would reduce the 60-day time frame to 45 days for personal property and casualty policies.
SB289 was introduced by Republican Sen. Dave Craig, of Big Bend, and GOP Rep. Mary Felzkowski, of Irma, who owns an insurance company – CIS Insurance Group in Tomahawk.