MS HB165

Creates the "Unfair Claims Settlement Practices Act" establishing standards for how insurers must investigate and handle claims under insurance policies issued to Mississippi residents

Defines unfair claims practices including: misrepresenting policy provisions, failing to promptly investigate or settle claims, refusing to pay without reasonable investigation, delaying payments, and offering substantially less than amounts ultimately recovered in lawsuits

Violations occur when acts are committed flagrantly in conscious disregard of the law, or with enough frequency to indicate a general business practice

Authorizes the Insurance Commissioner to impose penalties of up to $1,000 per violation (maximum $100,000 aggregate), or up to $25,000 per flagrant violation (maximum $250,000 aggregate), plus potential license suspension or revocation

Excludes workers' compensation, fidelity, suretyship, and boiler and machinery insurance from coverage, and explicitly does not create a private cause of action for violations