CT SB00954

Requires insurance companies to provide prominent disclosure on the front page of policies (in at least 12-point type) stating whether they reduce uninsured and underinsured motorist coverage limits for payments made to other claimants or for property damage, and describing the types of payments that may trigger reductions.

Clarifies that Social Security disability benefits cannot be used to reduce uninsured or underinsured motorist coverage limits or benefits payable to an insured.

Maintains existing rules that total recovery from all policies cannot exceed the uninsured and underinsured motorist coverage limits, except for underinsured motorist conversion coverage purchased separately.

Preserves the three-year statute of limitations for uninsured motorist claims and one-year statute of limitations for claims involving insurer insolvency or coverage denial, with specific tolling provisions for underinsured motorist claims.

Takes effect October 1, 2013.