Text: HF00063 Text: HF00065 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 516B.4 CERTAIN ACCIDENTS NOT
1 2 CONSIDERED IN ESTABLISHING RATES.
1 3 The commissioner shall require that insurance companies
1 4 transacting business in this state not consider an accident
1 5 involving an insured of the insurance company if any other
1 6 party to the accident is determined to be uninsured or
1 7 underinsured and to bear a greater percentage of fault than
1 8 the insurance company's insured, with regard to the cause of
1 9 such accident, for the purpose of establishing rates
1 10 applicable to the insured for a policy of motor vehicle
1 11 insurance. The commissioner shall also prohibit insurance
1 12 companies from canceling or refusing to renew any such policy
1 13 on account of such an accident.
1 14 EXPLANATION
1 15 This bill creates new Code section 516B.4 and requires the
1 16 insurance commissioner to prohibit insurers transacting
1 17 business in this state from considering an accident involving
1 18 an insured of the insurance company where any other party is
1 19 determined to be uninsured or underinsured and to bear a
1 20 greater percentage of fault than the insurance company's
1 21 insured, with regard to the cause of the accident, for the
1 22 purpose of establishing policy rates for motor vehicle
1 23 insurance charged by the insurer with respect to such insured.
1 24 The bill also provides that an insurer shall not cancel or
1 25 refuse to renew a policy as a result of the occurrence of such
1 26 an accident.
1 27 LSB 1541HH 78
1 28 mj/sc/14
Text: HF00063 Text: HF00065 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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