Underinsured motorist insurance coverage; establishes mechanism by which liability insurer pays. (HB919)

Introduced By

Del. Johnny Joannou (D-Portsmouth)

Description

Underinsured motorist insurance coverage. Establishes a mechanism by which a liability insurer insuring the owner, operator, or maintainer of an underinsured motor vehicle may, following approval of the court, pay all of its applicable limits of liability. Upon paying its limits under the policy, the insurer will be released from further liability and its obligation to participate in the defense of the proceeding. The measure applies to policies issued or renewed on or after July 1, 2008. Amends § 38.2-2206 (“Uninsured motorist insurance coverage.”), of the Code of Virginia. View Full Text »

Outcome

1 vote