Claims-made liability insurance policies; notice of potential claim. (SB654)

Introduced By

Sen. Don McEachin (D-Richmond)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Claims-made liability insurance policies.  Prohibits an insurer from denying coverage under a claims-made liability insurance policy for a claim based on the insured's failure to notify the insurer that a claim might be made under the policy, unless (i) the insured's failure to notify the insurer of the potential claim prejudices the insurer or (ii) the insured understood that the claim would be made under the policy. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/20/2012Unanimous consent to introduce
01/20/2012Presented and ordered printed 12104087D
01/20/2012Referred to Committee on Commerce and Labor
01/30/2012Impact statement from SCC (SB654)
02/06/2012Stricken at request of Patron in Commerce and Labor (15-Y 0-N) (see vote tally)