Bill Text | History of Actions | Background | Title |
Description: Insurance; require timely payment of property and casualty claims.
Bill Text: [Introduced]
| 1 | 01/15 (H) Referred To Insurance | |
| 2 | 01/30 (H) Died In Committee |
| Effective date | July 1, 2007 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
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.
End Of Document
2007/html/History/HB/HB1260.htm