HOUSE BILL 663

Sponsored By:

Delegates Kirk, Harrison, Donoghue, Frank, Exum, Love, Watson, Busch, Walkup, Goldwater, Marriott, Boston, Gordon, V. Mitchell, C. Mitchell, Krysiak, Barve, and Fulton

Entitled:

Property and Casualty Insurance Guaranty Corporation - Obligations

Synopsis:

Excluding from the definition of "covered claim" claims by insureds with a net worth exceeding $50,000,000; providing that any obligation of the Property and Casualty Insurance Guaranty Corporation to defend an insured ceases on payment of a specified amount; providing that any obligation of the Corporation ceases when $10,000,000 has been paid by the Corporation and other entities on claims arising under policies of one insolvent insurer; etc.

Legislative History

House Action

1/30

First Reading Economic Matters

Hearing 2/4 at 1:00 p.m.

2/11

Favorable Report by Economic Matters

2/12

Favorable Report Adopted

Second Reading Passed

2/14

Third Reading Passed (136-0)

3/28

Returned Passed

5/22

Signed by the Governor Chapter 682

Senate Action

2/17

First Reading Finance

3/5

Hearing 3/18 at 1:00 p.m.

3/12

Hearing cancelled

Hearing 3/14 at 1:00 p.m.

3/25

Favorable Report by Finance

3/27

Favorable Report Adopted

Second Reading Passed

3/31

Third Reading Passed (46-0)

Sponsored by:

Delegate Ruth M. Kirk, District 44

Delegate Kumar P. Barve, District 17

Delegate Frank D. Boston, Jr., District 41

Delegate Michael Erin Busch, District 30

Delegate John P. Donoghue, District 2C

Delegate Nathaniel Exum, District 24

Delegate Robert L. Frank, District 11

Delegate Tony Edward Fulton, District 40

Delegate Marilyn R. Goldwater, District 16

Delegate Michael R. Gordon, District 17

Delegate Hattie N. Harrison, District 45

Delegate Carolyn J. Krysiak, District 46

Delegate Mary Ann E. Love, District 32

Delegate Salima Siler Marriott, District 40

Delegate Clarence M. Mitchell, IV, District 44

Delegate Van T. Mitchell, District 28

Delegate Mary Roe Walkup, District 36

Delegate Carmena F. Watson, District 44

Bill indexed under the following Subject:

INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS

Bill affects the following Statutes:

Insurance

( 9-301 , 9-310.1 )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)