33-15-1108. Limitation on midterm premium increases. (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.
History: En. Sec. 2, Ch. 501, L. 2003; amd. Sec. 10, Ch. 62, L. 2019.
Structure Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 15. The Insurance Contract
Part 11. Property or Casualty Insurance -- Premium Changes, Cancellation, and Claim Information
33-15-1101. Purpose -- applicability
33-15-1103. Midterm cancellation
33-15-1104. Anniversary cancellation -- anniversary rate increases
33-15-1105. Nonrenewal -- renewal premium
33-15-1106. Renewal with altered terms
33-15-1107. Information about grounds for nonrenewal
33-15-1108. Limitation on midterm premium increases
33-15-1109. and 33-15-1110 reserved
33-15-1111. Home owner insurance not affected by day-care operations
33-15-1112. through 33-15-1120 reserved
33-15-1121. Unfair trade practices
33-15-1122. through 33-15-1125 reserved
33-15-1126. Disclosure of certain claim information on insurance policies