Bill Text: DE HB244 | 2015-2016 | 148th General Assembly | Draft
Bill Title: An Act To Amend Title 18 Of The Delaware Code Relating To Unfair Practices In The Insurance Business.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2016-06-14 - Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House [HB244 Detail]
Download: Delaware-2015-HB244-Draft.html
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SPONSOR: |
Rep. Paradee & Sen. Ennis |
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Reps. Keeley, Longhurst, Lynn, Mitchell |
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HOUSE OF REPRESENTATIVES 148th GENERAL ASSEMBLY |
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HOUSE BILL NO. 244 |
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AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO UNFAIR PRACTICES IN THE INSURANCE BUSINESS. |
Section 1. Amend § 2304, Title 18 of the Delaware Code by making deletions as shown by strike through and insertions shown by underline as follows:
§2304. Unfair methods of competition and unfair or deceptive acts or practices defined.
The following are hereby defined as unfair methods of competition and unfair or deceptive acts or practices in the business of insurance:
(16) Unfair claim settlement practices. — No person shall commit or perform with such frequency as to indicate a general business practice any of the following:
h. Attempting to settle a claim for less than the amount to which a reasonable person would have believed that person's own self was entitled by reference to written or printed advertising material accompanying or made part of an application, or by reference to a common, verifiable compilation of valuation data;
Section 2.This Act shall take effect upon its enactment.
SYNOPSIS
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This Act prohibits insurance companies from frequently attempting to settle claims with their insureds for less than an amount a reasonable person would believe to be fair based on a common, verifiable compilation of valuation data, such as the NADA guides. |
