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ID S1067
Bill
Status
Introduced
2/10/2023
Primary Sponsor
Commerce and Human Resources Committee
Click for details
AI Summary
- Defines "uninsured motor vehicle" to include insured vehicles where the liability insurer cannot make payment due to insolvency
- Defines "underinsured motor vehicle" as a vehicle with bodily injury or death liability limits at least equal to those in Idaho Code section 49-117
- Changes underinsured motorist coverage effective July 1, 2024 to be excess coverage that cannot be reduced by amounts paid by the tortfeasor's coverage or other coverage
- Limits recovery under underinsured motorist coverage to the lesser of total legal liability of the tortfeasor or applicable underinsured coverage limits
- Grandfather clause exempts motor vehicle insurance policies in effect before July 1, 2024 from the new underinsured motorist coverage requirements
- Authorizes the Department of Insurance to promulgate rules to implement and enforce these provisions
- Effective date: July 1, 2023
Legislative Description
Amends existing law to provide certain limitations on coverage.
INSURANCE
Last Action
Reported Printed; referred to Commerce & Human Resources
2/13/2023
Committee Referrals
Commerce and Human Resources2/13/2023
Judiciary and Rules2/10/2023
Full Bill Text
No bill text available