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S00242 Summary:

BILL NOS00242
 
SAME ASSAME AS A00921
 
SPONSORDEFRANCISCO
 
COSPNSRFELDER, HAMILTON, KRUEGER
 
MLTSPNSR
 
Add 2601-a, Ins L
 
Provides that an insurer doing business in this state shall be liable to a policy holder for such insurer's refusal to pay or unreasonable delay of payment to the policy holder if such refusal or delay was not substantially justified; enumerates instances whereby an insurer's refusal or delay of payment is not substantially justified including intentional negligence, failure to act in good faith, failure to provide written denial of claim, failure to make final determination of claim within six months, and failure to promptly proceed with the appraisal process.
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