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IN SB0120
Bill
Status
Introduced
1/4/2012
Primary Sponsor
Carlin Yoder
Click for details
AI Summary
- Requires motor vehicle insurers to immediately begin good faith efforts to contact the policyholder and any other necessary individuals when a third party files a damage claim alleging the insured was at fault
- Prohibits insurers from requiring the third party claimant to attempt to contact the policyholder or other individuals if the insurer is unable to reach them
- Mandates insurers to settle third party claims after 30 days if the insurer cannot contact the policyholder, a police report has been filed, and the third party agrees to settlement based on the police report information
- Classifies violations of these claim settlement requirements as unfair claim settlement practices under Indiana insurance law
- Effective date of July 1, 2012
Legislative Description
Motor vehicle insurance claim settlement.
Last Action
First reading: referred to Committee on Insurance and Financial Institutions
1/4/2012
Full Bill Text
No bill text available