Law Cuts Notice Time for Insurance Premium Hikes

Tony Evers. Photo by Emily Hamer/Wisconsin Center for Investigative Journalism.

A bill that cuts from 60 days to 45 days the advanced notice that insurers are required to give policy holders about premium increases was signed into law on Tuesday by Democratic Gov. Tony Evers.

The measure, Senate Bill 289, was backed by the insurance industry and had bipartisan support.

Previous state law required 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.

One of the bill’s sponsors GOP Rep. Mary Felzkowski, of Irma, owns an insurance company – CIS Insurance Group in Tomahawk.

The insurance industry gave about $5.1 million in individual, corporate and political action committee (PAC) contributions to legislative and statewide candidates between January 2011 and July 2019.

The top recipients were:

Former GOP Gov. Scott Walker, $1.8 million,

Republican Assembly Campaign Committee, $323,225,

Committee to Elect a Republican Senate, about $301,350,

Former Republican Lt. Gov. Rebecca Kleefisch, about $180,000,

State Senate Democratic Committee, about $145,450.

Evers has received $49,775 in individual and political action committee (PAC) contributions from the insurance industry.

The insurance industry’s top contributors between January 2011 and June 2019 were:

Northwestern Mutual Life PAC, $439,600,

Wisconsin Insurance Alliance PAC, $263,165,

Gerald and Judith Couri, Waukesha, owners of Couri Insurance Agency, $209,505,

Patrick and Shirley Ryan, Winnetka, Ill., owners of Ryan Specialty Group, $155,000,

Insurance and Financial Advisors PAC-Wisconsin, $113,025.