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HI HB2403

Bill

Official Source

Status

Introduced

1/23/2014

Primary Sponsor

Scott Nishimoto

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Adds new section §431:10C to Hawaii Revised Statutes requiring insurers to pay first party insurance claims within 30 days of a demand for payment
  • Insurer must pay an amount it deems fair within the 30-day timeframe
  • If fair value remains disputed after payment, the matter may be resolved according to provisions in the motor vehicle insurance policy
  • Does not limit any recourse available to the first party claimant against the insurer
  • Takes effect upon approval

Legislative Description

Insurance; Motor Vehicle Insurance; First Party Claims; Prompt Payment

Last Action

The committee(s) on CPC recommend(s) that the measure be deferred.

2/10/2014

Committee Referrals

Consumer Protection & Commerce1/27/2014

Full Bill Text

No bill text available