Bill Text - SB423 (2024)

Relative to mandatory disclosure of insurance policy limits.


Revision: April 11, 2024, 1:13 p.m.

SB 423 - AS AMENDED BY THE SENATE

 

04/11/2024   1119s

04/11/2024   1390s

2024 SESSION

24-2989

05/10

 

SENATE BILL 423

 

AN ACT relative to mandatory disclosure of insurance policy limits.

 

SPONSORS: Sen. Carson, Dist 14; Sen. Birdsell, Dist 19; Sen. Soucy, Dist 18; Rep. Kuttab, Rock. 17; Rep. M. Smith, Straf. 10

 

COMMITTEE: Judiciary

 

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ANALYSIS

 

This bill requires insurers to disclose the liability coverage limits of an insurance policy upon request by a claimant or the claimant's attorney.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

04/11/2024   1119s

04/11/2024   1390s 24-2989

05/10

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty Four

 

AN ACT relative to mandatory disclosure of insurance policy limits.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  New Section.  Amend RSA 264 by inserting after section 29 the following new section:

264:29-a  Mandatory Disclosure.

I.  Not later than 60 days after an insurer doing business in this state receives a written request by or on behalf of claimant or the claimant's attorney, because of personal injury, bodily injury, or death caused by a motor vehicle collision, the insurer shall disclose, in writing, all liability coverage limits applicable to the claim.  The claimant or claimant’s attorney shall utilize the disclosure only in connection with the claim or lawsuit.

II.  An insurer who fails to comply with this section is subject to a penalty of $500, plus reasonable attorney's fees and expenses incurred in obtaining the coverage limits.  

2  Effective Date.  This act shall take effect January 1, 2025.