SB 466
Modifies provisions relating to settlement demands to liability insurers
Sponsor:
LR Number:
1353S.01I
Last Action:
3/23/2023 - Second Read and Referred S Judiciary and Civil and Criminal Jurisprudence Committee
Journal Page:
Title:
Effective Date:
August 28, 2023

Current Bill Summary

SB 466 - Currently, offers to settle any claim for person injury, bodily injury, or wrongful death on behalf of a claimant that are required to be accepted within a specified period of time by a tort-feasor with a liability insurer are required to contain the time period within which the offer remains open for acceptance, which shall not be less than ninety days from the date such demand is received by the liability insurer.

This act modifies the provision by providing that in any action alleging extracontractual damages against the tort-feasor's liability insurer, any prior offers to settle any claim for person injury, bodily injury, or wrongful death on behalf of a claimant to a tort-feasor with a liability insurance policy shall not be considered a reasonable opportunity to settle the claim unless the settlement demand remains open for acceptance for at least ninety days from the date such settlement demand was received by the liability insurer, and if the offer remains open for more than ninety days, the offer shall contain the time period within which acceptance may be given.

This act is substantially similar to HB 1009 (2023).

KATIE O'BRIEN

Amendments

No Amendments Found.