SENATE BILL 26

Sponsored By:

Senator Teitelbaum

Entitled:

Disability Insurance - Liability of Insurers for Penalties and Interest on Disputed Claims

Synopsis:

Establishing that an insurer is liable to an insured under a policy of disability insurance for a penalty in the amount of 10% of the disputed claim and specified interest on the claim if the insurer appeals an order of the Insurance Commissioner to pay the claim and the court affirms the order of the Commissioner.

History by Legislative Date

Senate Action

11/8

Pre-filed

1/10

First Reading Finance

1/24

Hearing 2/6 at 1:00 p.m.

2/26

Withdrawn

House Action

No Action

Bill indexed under the following Subjects:

CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES

DISABILITIES -see also- BLIND; DEAF; DEVELOPMENTAL

INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS

INTEREST

LIABILITY -see also- GOOD SAMARITAN

PENALTIES

Bill affects the following Statute:

Insurance

( 15-1010 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered