SSB 1010 (LSB 1307XC (2) 88)

SENATE FILE _____ 

BY  (PROPOSED COMMITTEE ON JUDICIARY BILL BY CHAIRPERSON ZAUN)

A BILL FOR

An Act relating to certain liability insurance policy information required to be given to claimants.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  NEW SECTION.  515.135  Policy information —— duty to provide to claimant.
   1.  For purposes of this section, “claimant” means a party making a claim under an insurance policy.
   2.  Upon the written request of a claimant or a claimant’s representative, an insured or the insurance agent of an insured against whom a claim for liability is being made or may be made, shall disclose the name of the insurer and the nature of the insurance coverage to the claimant or the claimant’s representative. The insured or the insurance agent of the insured shall also notify all insurers providing coverage for the insured of the request for information and each insurer so notified shall supply the information required under subsection 3 to the claimant or the claimant’s representative within thirty calendar days of receipt of such notice.
   3.  Upon the written request of a claimant or a claimant’s representative, an insurer that is providing or may provide liability insurance coverage of the claimant’s claim or a portion of that claim under a policy of insurance, shall, within thirty calendar days, provide a written statement, made under oath, by a corporate officer, claims manager, or other supervisory employee of the insurer. The written statement shall include the following information with respect to each policy of insurance issued by that insurer, including excess or umbrella insurance, under which such coverage is being or may be provided:
   a.  The name of the insurer.
   b.  The name of each insured under the policy.
   c.  The limits of the liability coverage under the policy.
   d.  A statement of any policy or coverage defense which the insurer asserts is available to the insurer at the time the written statement is prepared.
   e.  A copy of the policy.
   4.  Information provided to a claimant or a claimant’s representative pursuant to this section shall be amended within one business day upon the discovery that any information provided is incorrect and such amended information shall be immediately provided in a written statement to the claimant or the claimant’s representative.
EXPLANATION
The inclusion of this explanation does not constitute agreement with
the explanation’s substance by the members of the general assembly.
   This bill requires insurers, and insureds and their insurance agents, to provide certain information about insurance policies that are providing or may provide liability insurance coverage to a claimant, upon the request of the claimant or the claimant’s representative, and to update the information provided when it is not correct.