Senate Study Bill 1010 - Introduced SENATE FILE _____ BY (PROPOSED COMMITTEE ON JUDICIARY BILL BY CHAIRPERSON ZAUN) A BILL FOR An Act relating to certain liability insurance policy 1 information required to be given to claimants. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 1307XC (2) 88 ko/rn

S.F. _____ Section 1. NEW SECTION . 515.135 Policy information —— duty 1 to provide to claimant. 2 1. For purposes of this section, “claimant” means a party 3 making a claim under an insurance policy. 4 2. Upon the written request of a claimant or a claimant’s 5 representative, an insured or the insurance agent of an insured 6 against whom a claim for liability is being made or may be 7 made, shall disclose the name of the insurer and the nature 8 of the insurance coverage to the claimant or the claimant’s 9 representative. The insured or the insurance agent of the 10 insured shall also notify all insurers providing coverage for 11 the insured of the request for information and each insurer so 12 notified shall supply the information required under subsection 13 3 to the claimant or the claimant’s representative within 14 thirty calendar days of receipt of such notice. 15 3. Upon the written request of a claimant or a claimant’s 16 representative, an insurer that is providing or may provide 17 liability insurance coverage of the claimant’s claim or a 18 portion of that claim under a policy of insurance, shall, 19 within thirty calendar days, provide a written statement, made 20 under oath, by a corporate officer, claims manager, or other 21 supervisory employee of the insurer. The written statement 22 shall include the following information with respect to each 23 policy of insurance issued by that insurer, including excess 24 or umbrella insurance, under which such coverage is being or 25 may be provided: 26 a. The name of the insurer. 27 b. The name of each insured under the policy. 28 c. The limits of the liability coverage under the policy. 29 d. A statement of any policy or coverage defense which the 30 insurer asserts is available to the insurer at the time the 31 written statement is prepared. 32 e. A copy of the policy. 33 4. Information provided to a claimant or a claimant’s 34 representative pursuant to this section shall be amended within 35 -1- LSB 1307XC (2) 88 ko/rn 1/ 2

S.F. _____ one business day upon the discovery that any information 1 provided is incorrect and such amended information shall be 2 immediately provided in a written statement to the claimant or 3 the claimant’s representative. 4 EXPLANATION 5 The inclusion of this explanation does not constitute agreement with 6 the explanation’s substance by the members of the general assembly. 7 This bill requires insurers, and insureds and their 8 insurance agents, to provide certain information about 9 insurance policies that are providing or may provide liability 10 insurance coverage to a claimant, upon the request of the 11 claimant or the claimant’s representative, and to update the 12 information provided when it is not correct. 13 -2- LSB 1307XC (2) 88 ko/rn 2/ 2