Senate Bill No. 453
(By Senators Wills, Klempa, Tucker, Snyder, Yost and Kessler (Mr. President))
[Introduced January 30, 2012; referred to the Committee on Banking and Insurance.]
A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §33-45-2a, relating to the disclosure of insurance coverage.
Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §33-45-2a, to read as follows:
ARTICLE 45. ETHICS AND FAIRNESS IN INSURER BUSINESS PRACTICES.
§33-45-2a. Disclosure of certain information required.
(a) (1) Each insurer which does or may provide liability insurance coverage to pay all or a portion of any claim which might be made shall provide, within thirty days of a written request of the claimant, a statement, under oath, of a corporate officer or the insurer's claims manager or superintendent providing the following information relating to each known policy of insurance, including excess or umbrella insurance:
(A) The name of the insurer;
(B) The name of each insured;
(C) The limits of the liability coverage;
(D) A statement of any policy or coverage defense which the insurer reasonably believes is available to the insurer at the time of the filing of the statement;
(E) A copy of the policy;
(2) In addition, the insured, or his or her insurance agent, upon written request of the claimant or the claimant's attorney, shall disclose the name and coverage of each known insurer to the claimant and shall forward the request for information as required by this subsection to all affected insurers. The insurer shall then supply the information required in this subsection to the claimant within thirty days of the request.
(b) The statement required by subdivision (1), subsection (a) of this section shall be amended immediately upon discovery of facts calling for an amendment to the statement.
NOTE: The purpose of this bill is to require certain information pertaining to liability coverage be disclosed to the claimant or his or her attorney within thirty days of a written request.
This section is new; therefore, strike-throughs and underscoring have been omitted.