Uninsured and underinsured motorist insurance policies; bad faith. (SB27)

Introduced By

Sen. Chap Petersen (D-Fairfax) with support from co-patron Del. Ibraheem Samirah (D-Herndon)

Description

Uninsured and underinsured motorist insurance policies; bad faith. Provides that if an insurance company denies, refuses, or fails to pay its insured, or refuses a reasonable settlement demand within the policy's coverage limits, for a claim for uninsured or underinsured motorist benefits within a reasonable time after being presented with a demand for such benefits and it is subsequently found that such denial, refusal, or failure was not in good faith, then the insurance company shall be liable to the insured for the full amount of the judgment and reasonable attorney fees, expenses, and interest from the date the initial settlement demand was presented to the insurance company. Read the Bill »

Outcome

History