An Act relative to modernization of insurance laws
Generates a plain-language summary of the bill text and history.
| Date | Branch | Action |
|---|---|---|
| 12/4/2025 | House | Discharged to the committee on House Ways and Means |
| 11/19/2025 | House | Bill reported favorably by committee and referred to the committee on House Steering, Policy and Scheduling |
| 11/19/2025 | House | Accompanied by H1085↗, H1100↗, H1105↗, H1123↗, H1129↗, H1139↗, H1233↗ and H1248↗ |
| 5/7/2025 | Joint | Hearing scheduled for 05/13/2025 from 10:00 AM-01:00 PM in A-2 |
| 2/27/2025 | Senate | Senate concurred |
| 2/27/2025 | House | Referred to the committee on Financial Services |
No additional cosponsors.
| Committee | Recommendation | Vote |
|---|---|---|
| J11 | Favorable | 1 entries |
| H52 | Discharge to Another Committee | — |
of said chapter 175, as so appearing, is hereby amended by striking out the second paragraph and inserting in place thereof the following paragraph: No life insurance company shall accept or take action on any request to change the designation of beneficiary under any policy of life or endowment insurance unless the identity of the person requesting the change is verified by the insurance company to the extent reasonable and practicable. Verification may include a disinterested person witnessing the signature of the person requesting the change, or other proof acceptable to the insurance company. For purposes of this section, a disinterested person is one who is over eighteen years of age and not designated as a beneficiary in the requested change. Upon receipt and acceptance of the change of designation of beneficiary, the insurance company shall provide written notice of the change to the policy owner at the owner's last known address.
Section 123 of said chapter 175, as so appearing, is hereby amended by striking out the second paragraph and inserting in place thereof the following paragraph: No life insurance company shall accept or take action on any request to change the designation of beneficiary under any policy of life or endowment insurance unless the identity of the person requesting the change is verified by the insurance company to the extent reasonable and practicable. Verification may include a disinterested person witnessing the signature of the person requesting the change, or other proof acceptable to the insurance company. For purposes of this section, a disinterested person is one who is over eighteen years of age and not designated as a beneficiary in the requested change. Upon receipt and acceptance of the change of designation of beneficiary, the insurance company shall provide written notice of the change to the policy owner at the owner's last known address.