Senate Bill 448 Summary

• Requires motor vehicle insurers to immediately begin good faith efforts to contact policyholders and other necessary individuals when receiving claims for damage from accidents allegedly caused by the insured.

• Prohibits insurers from requiring third-party claimants to contact the policyholder or other individuals if the insurer is unable to make such contacts.

• Mandates insurers settle third-party damage claims within 30 days if the claim was filed, contacts were unsuccessful, a police report exists, and the claimant does not object to settlement based on the police report.

• Requires settlement amounts to be based on the percentage of fault attributable to each party involved in the accident as determined from the police report.

• Establishes that violations of these requirements constitute unfair claims settlement practices under Indiana Code 27-4-1-4.5, effective July 1, 2013.