Bill Text: HI SB2245 | 2014 | Regular Session | Introduced
Bill Title: Insurance; Motor Vehicle Insurance; First Party Claims; Prompt Payment
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2014-02-20 - The committee on CPN deferred the measure. [SB2245 Detail]
Download: Hawaii-2014-SB2245-Introduced.html
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THE SENATE |
S.B. NO. |
2245 |
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TWENTY-SEVENTH LEGISLATURE, 2014 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to insurance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 431, article 10C, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:
"§431:10C‑ Prompt payment of first party insurance claims. In a first party insurance claim, the insurer shall pay to the claimant an amount the insurer deems fair within thirty days of a demand for payment of insurance benefits. If after the payment, the fair value of the claim is still in dispute between the insurer and the claimant, the matter may be resolved according to the provisions in the motor vehicle insurance policy. This section shall not affect any recourse the first party claimant may have against the insurer."
SECTION 2. This Act does not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before its effective date.
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Insurance; Motor Vehicle Insurance; First Party Claims; Prompt Payment
Description:
Requires an insurer in a first party insurance claim to pay the claimant a fair amount within thirty days of a demand for payment of insurance benefits.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
