Report Title:
Underinsured motorist coverage subrogation
Description:
Allows underinsured motorist insurers to assert a subrogation right against third-party tortfeasors.
HOUSE OF REPRESENTATIVES |
H.B. NO. |
855 |
TWENTY-FIRST LEGISLATURE, 2001 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to insurance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 431, Hawaii Revised Statutes, is amended by adding a new section to article 10C to be appropriately designated and to read as follows:
"§431:10C Underinsured motorist coverage subrogation. An insurer providing underinsured motorist coverage may assert a subrogation right against a third-party tortfeasor; provided that the insurer extends additional underinsured motorist coverage in an amount equal to the liability policy limits of the third-party tortfeasor. Any failure to comply with the provisions of this section shall preclude the assertion of a subrogation right for underinsured motorist coverage."
SECTION 2. New statutory material is underscored.
SECTION 3. This Act shall take effect upon its approval.
INTRODUCED BY: |
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