SB 778 – Provides that an insurer who deposits the limits of coverage amount with the court shall not be liable for an amount in excess of the insurer's contractual coverage limits in an interpleader action

• Sponsor: Rowden
• LR Number: 4898S.01I
• Committee: Government Reform
• Last Action: 1/31/2018 - SCS Voted Do Pass S Government Reform Committee (4898S.02C)
• Effective Date: August 28, 2018

Current Bill Summary

SCS/SB 778 - This act provides that if an insurer files an action for interpleader and deposits the limits of coverage amount with the court, the insurer shall not be liable to any insured or defendant for an amount in excess of the insurer's contractual coverage limits in an interpleader or other action, provided that the insurer defends the insured from any claim for damages allegedly caused by the occurrence for which the limits of coverage are paid into the court. This act does not modify an insured's right to consent or control the defense or settlement of any claim as provided in the insurance contract.

This act is substantially similar to provisions in the truly agreed to and finally passed version of HB 1531 (2018) and SCS/SB 1102 (2018).

JESSI JAMES