S.D. Codified Laws § 58-33-107

Current through the 2024 Legislative Session

Section 58-33-107 - Written disclosures required before issuing contract for stop loss policy

No insurer may engage in the transacting of insurance in this state by issuing a stop loss policy unless, prior to issuing a contract for the stop loss policy, the insurer discloses clearly and conspicuously to the employer, in writing the following:

(1) The employer is not covered for claims below the stop loss attachment point;

(2) A description of the attachment point, including the specific and aggregate attachment points; and

(3) The insurer provides no other coverage of the employer's retention.

SDCL 58-33-107

SL 2007, ch 292, §15.