Bill > HB2927

This bill modifies provisions related to settlement demands in personal injury, bodily injury, or wrongful death claims, particularly concerning "extracontractual damages," which are damages exceeding the total available liability insurance limits. The bill redefines a "settlement demand" to be any offer to settle a claim within an insurer's limits, removing the previous requirement for it to be time-limited. For a settlement demand to be considered a reasonable opportunity for an insurer to settle a claim when extracontractual damages are alleged, it must now be in writing, reference the specific section of law, be sent via certified mail, and remain open for acceptance by the insurer for at least ninety days. Additionally, the demand must include specific details such as the amount requested, policy limits, date and location of the loss, a description of injuries and parties/claims to be released, and an offer of unconditional release for the insured. The claimant must also provide lists of healthcare providers and employers with authorizations for record retrieval. Insurers have ninety days to accept the demand, and claimants can still require payment within a specified period after a release is executed. These provisions do not apply to demands made within ninety days of a trial, and non-compliant demands will not be considered a reasonable settlement opportunity in lawsuits alleging extracontractual damages.