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1997 SESSION

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HB 1997 Insurance; notice of intention to rely on certain defenses.

Introduced by: Joseph P. Johnson, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Insurance, notice of intention to rely on certain defenses; execution of nonwaiver of rights agreement. Establishes 45 days as the uniform deadline for an insurer's notification of its intention to rely on a defense as to the validity of an insurance contract and for the execution of a "nonwaiver of rights" agreement. Presently, the deadline for notification of a breach is 20 days and the deadline for execution of a "nonwaiver of rights" agreement is 10 days. The bill also clarifies that the failure to give timely notice of either will result in a waiver of that defense.


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