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LC 2467

Generally revise insurance laws

2025 Regular Session

LC 2467 aimed to broadly overhaul the state's insurance laws, affecting insurers, consumers, and regulators; the bill died in process and never advanced.

(LC) Draft Died in Process
#insurance
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WeVote Research Nonpartisan
Bill Summary · LC 2467

Summary: LC 2467 – Generally revise insurance laws

This summary outlines what is publicly known about LC 2467, a bill titled “Generally revise insurance laws.” The text of the bill is not provided here, so the analysis focuses on the bill’s stated purpose, status, and what can be reasonably inferred from its title and procedural records.

Overview

  • Bill number: LC 2467
  • Title: Generally revise insurance laws
  • Subject: Insurance
  • Introduced: December 8, 2024
  • Classification: bill
  • Status: Draft Died in Process (LC)

Note: The “LC” designation typically refers to a legislative counsel or drafting office. The available record indicates that the bill was drafted but did not advance.

Purpose and scope (inferred from the title)

  • The title suggests an effort to broadly overhaul or modernize the state’s insurance laws.
  • Because the full text is not provided, the exact goals, scope, and policy changes are not known. Possible areas in a general revision could include regulatory framework, insurer solvency requirements, rate and form filings, consumer protections, licensing and discipline of producers, compliance standards, and modernization of IT/data provisions. These are common components of comprehensive insurance reform, but they are not confirmed for LC 2467.

Key provisions (not available in provided text)

  • The actual provisions of LC 2467 are not included in the information provided. Consequently, there are no specific changes that can be itemized (e.g., numeric rate caps, new filing timelines, solvency metrics, or consumer disclosure requirements).

Affected parties and potential impact (based on typical insurance-reform context)

  • Insurers and producers: May face updated licensing rules, reporting requirements, or rates/forms approval processes.
  • Policyholders and consumers: Could see enhancements in consumer protections, disclosures, or disputes handling; potential impacts on premium calculations if rate/form rules change.
  • Regulators (e.g., state Department of Insurance): Likely responsible for implementing any new regulatory framework, reporting, and enforcement changes.
  • Small businesses and employers: If the reform touches group or commercial lines, there could be effects on coverage options and pricing.

Procedural timeline

  • Dec 8, 2024: Drafter Assigned; Draft On Hold (initial steps indicating preparation and temporary hold).
  • Dec 8, 2024 – onward: Status shows ongoing drafting activity is paused/held.
  • May 26, 2025: (LC) Draft Died in Process (the bill did not progress further and is regarded as dead in the legislative process).

Next steps for readers

  • To understand whether LC 2467 would have affected a specific area of insurance, the full bill text and any fiscal notes or committee analyses would be required.
  • If available, check:
    • The full bill language and any amendments
    • Committee reports or sponsor statements
    • Fiscal impact notes and regulatory impact statements
    • Legislative summaries or analyses from the drafting office

Bottom line

LC 2467 is a proposed, broad revision of the state’s insurance laws that ultimately did not advance beyond the drafting stage. Without the text, its precise objectives, provisions, and impacts cannot be determined. Readers seeking concrete details should obtain the official bill text and accompanying materials from the legislative records.

Compiled from official sources — confirm details with the bill’s official record.

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