MS HB185

Creates the "Unfair Claims Settlement Practices Act" to establish standards for investigating and settling insurance claims for Mississippi residents, excluding workers' compensation, fidelity, suretyship, and boiler and machinery insurance.

Defines unfair claims practices including knowingly misrepresenting policy provisions, failing to acknowledge communications, refusing to pay without investigation, unreasonably delaying claims, and failing to provide claim forms within 15 days.

Authorizes the Insurance Commissioner to issue cease and desist orders after a hearing with at least 30 days' notice to any insurer engaging in unfair claims practices.

Establishes penalties of up to $1,000 per violation (maximum $100,000 aggregate) for standard violations, or up to $25,000 per violation (maximum $250,000 aggregate) for flagrant violations in conscious disregard of the act.

Allows the Commissioner to suspend or revoke an insurer's license for violations and impose penalties up to $25,000 per violation (maximum $250,000 aggregate) for violations of cease and desist orders; effective July 1, 2017.