Mississippi Legislature
2007 Regular Session

House Bill 1260

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Bill Text

History of Actions

Background

Title

Description: Insurance; require timely payment of property and casualty claims.

Bill Text: [Introduced]

History of Actions:

1 01/15 (H) Referred To Insurance
2 01/30 (H) Died In Committee

Background Information:

Effective dateJuly 1, 2007
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority

House Committee:

Principal Author: Straughter

Additional Author: Franks

Title: AN ACT TO PROVIDE THAT INSURANCE COMPANIES MUST PAY ON A TIMELY BASIS ALL BENEFITS FOR WHICH IT IS CONTRACTUALLY OBLIGATED TO PAY UNDER THE TERMS OF AUTOMOBILE, HOMEOWNERS, AND FLOOD, HURRICANE OR WINDSTORM INSURANCE POLICIES; TO PROVIDE CONDITIONS UNDER WHICH THE PAYMENT OF CLAIMS SHALL NOT BE CONSIDERED TO BE UNTIMELY; TO PROVIDE THAT AN INSURER THAT FAILS TIMELY TO PAY ALL SUCH BENEFITS SHALL BE PRESUMED TO HAVE ACTED IN BAD FAITH AND SHALL BE LIABLE FOR PUNITIVE DAMAGES IN ADDITION TO BENEFITS DUE UNDER ITS CONTRACT OF INSURANCE; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 01/30/07 at 18:55.

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2007/pdf/History/HB/HB1260.htm