SB 376 (BR 2311) - D. Williams
AN ACT relating to underinsured motorist coverage.
Amend KRS 304.39-320 on underinsured motorist coverage to provide that if the injured person agrees to settle a claim for an amount that does not fully satisfy the claim for injuries or death, written notice of the proposed settlement must be sent to all underinsured motorist insurers that provide coverage; permit the underinsured motorist insurer to respond within 30 days; permit the injured party to proceed with settlement if underinsured motorist insurer gives authorization or fails to respond within 30 days; provide that the injured party may agree to settle a claim with a liability insurer for less than the underinsured motorist's full liability policy limits; provide that if the underinsured motorist insurer to preserve its subrogation rights by refusing to settle, the insurer must pay the injured party within 30 days the amount of the offer from the underinsured motorist's liability insurer; provide that the underinsured motorist insurer is entitled to a credit against total damages in the amount of the limits of the underinsured motorist's liability policy even if the settlement or payment by the underinsured motorist insurer is for less than the underinsured motorist's full liability policy limits.
SB 376 - AMENDMENTS
HCS - Change language requiring "permission" to requiring "consent;" insert provision limiting insurance company liability to the limits of liability insurance.
HFA (1, J. Vincent) - Permit an underinsured motorist insurer to seek subrogation against the liability insurer and the underinsured motorist for the amounts paid to the injured party.
Feb 27-introduced in Senate
Mar 2-to Transportation (S)
Mar 3-reassigned to Judiciary (S)
Mar 13-reported favorably, 1st reading, to Consent Calendar
Mar 16-2nd reading, to Rules
Mar 18-posted for passage in the Consent Orders of the Day for March 20, 1998
Mar 20-3rd reading, passed 37-0; received in House
Mar 23-to Judiciary (H); posting waived
Mar 24-reported favorably, 1st reading, to Calendar with Committee Substitute
Mar 25-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for March 26, 1998; floor amendment (1) filed to Committee Substitute
Mar 26-3rd reading, passed 98-0 with Committee Substitute and floor amendment (1)
Mar 27-received in Senate
Mar 31-posted for passage for concurrence in House amendments on March 31, 1998; Senate concurred in House Committee Substitute and House floor amendment (1); passed 32-0
Apr 1-enrolled, signed by each presiding officer, delivered to Governor
Apr 13-signed by Governor
