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IN SB0245
Bill
Status
1/4/2012
Primary Sponsor
John Waterman
Click for details
AI Summary
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Allows individuals who suffer financial loss from unfair insurance claim settlement practices to file civil lawsuits against the responsible party
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Permits plaintiffs to recover up to three times their actual damages, plus court costs and reasonable attorney's fees
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Requires defendants to pay any damages exceeding actual damages, costs, and attorney's fees to the court clerk rather than directly to the plaintiff
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Distributes excess damage payments with 75% going to the plaintiff and 25% deposited into the Department of Insurance fund for consumer protection
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Effective date of July 1, 2012
Legislative Description
Unfair claim settlement practices.
Last Action
First reading: referred to Committee on Insurance and Financial Institutions
1/4/2012