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Current as of January 01, 2024 | Updated by Findlaw Staff
(1) In any case involving property or casualty insurance that is subject to this part, the insurer may not unilaterally increase the rate charged or decrease the coverage provided for the contract period unless:
(a) there is a change in risk during that period because of the addition or removal of persons or property that was included in the rate at last renewal;
(b) the risk was misrepresented by the insured; or
(c) the insured requests a policy change that increases the rate because of that specific request.
(2) This section does not prohibit the cancellation of a policy for any other reason permitted by the policy or by law during an initial policy period not to exceed 60 days.
Cite this article: FindLaw.com - Montana Title 33. Insurance and Insurance Companies § 33-15-1108. Limitation on midterm premium increases - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-33-insurance-and-insurance-companies/mt-st-33-15-1108/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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