SB 994 Motor vehicle insurance; underinsurance coverage; notice of payment.
William C. Mims | all patrons    ...    notes
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Summary as introduced:
Motor vehicle insurance; underinsurance coverage; notice of payment to the extent of available coverage. Specifies the nature and content of the notice that a liability insurance carrier must give its insured whenever (i) it intends to pay the entire amount of the insured's limits of available coverage under the policy to a liability insurance claimant and (ii) the claimant has underinsured insurance coverage in excess of the amount paid. The notice must also be given to all insurance carriers providing underinsurance coverage relative to the claim. The contents of the notice must include a statement that (a) the liability insurance carrier will continue to provide a defense of the claim, (b) all available limits of liability have been paid to the claimant and (c) the insured may be personally liable for any judgment in excess of the amount paid. The bill also provides that by giving such notice to the carrier providing underinsurance coverage to the claimant, the costs of defense may be shifted from the liability carrier to the underinsurance carrier.

Full text:
01/08/03  Senate: Presented & ordered printed, prefiled 01/07/03 034851500  pdf

Status:
01/08/03  Senate: Presented & ordered printed, prefiled 01/07/03 034851500
01/08/03  Senate: Referred to Committee on Commerce and Labor
02/03/03  Senate: Passed by indefinitely in C. & L. (14-Y 1-N)