West Virginia Bill Requires Insurance Disclosure
West Virginia’s House of Delegates has approved a bill requiring insurance companies to provide policy information in advance of claims.
The bipartisan bill that passed 64-33 would allow people filing a file claim to learn the policy’s coverage limits, potential defenses and other information.
Supporters said a dozen states have similar disclosure laws, including neighboring Virginia.
The state Chamber of Commerce opposes the bill. It and other business groups warn that plaintiff’s lawyers would obtain information about anyone’s insurance coverage for practically any reason.
House Judiciary Chair Tim Miley denounced their allegations as hysterical propaganda. He successfully had the bill amended to limit disclosures to people filing claims.
Supporters argue that such information must already be disclosed once a lawsuit is filed. They said the bill will reduce insurance lawsuits.
- Aon Acquires USI Insurance From KKR in $17 Billion Deal Targeting Middle Market
- Floridians Saved Almost $3B on HO and Auto Premiums Last Year, Actuarial Report Finds
- EQT to Pay $2 Billion for Majority Stake in McGill and Partners
- Viewpoint: Commercial P/C Talent Gap 5 Years On—Are We Asking the Right Question