An Act Concerning Uninsured Motorist Coverage For Bodily Injury To A Named Insured Or Relative During The Theft Of A Motor Vehicle.
Impact
The enactment of SB00101 has the potential to significantly alter the landscape of automobile liability insurance in the state. By closing a gap in the coverage provided under existing policies, the bill would enhance consumer protections, thereby ensuring that victims of automobile theft-related accidents are not left without coverage solely based on the circumstances of the incident. This change could encourage greater responsibility among insurers in their coverage offerings and promote consumer awareness about the importance of uninsured motorist coverage.
Summary
SB00101, titled 'An Act Concerning Uninsured Motorist Coverage For Bodily Injury To A Named Insured Or Relative During The Theft Of A Motor Vehicle,' seeks to amend existing automobile liability insurance policies to ensure that uninsured motorist coverage is available in specific circumstances. The bill specifies that insurers may not deny coverage to individuals who are injured as pedestrians during the theft of a vehicle they own or occupy. This aims to expand the protections available under automobile insurance policies in situations where the insured or a resident relative may be involved in an incident related to the theft of their insured vehicle.
Sentiment
The general sentiment surrounding SB00101 appears to be positive, particularly among consumer advocacy groups and legislators focused on insurance reform. Proponents argue that it rightly addresses the vulnerabilities faced by insured individuals when involved in accidents due to uninsured drivers or during theft incidents. However, some resistance may come from insurers concerned about the implications of extending coverage, fearing increased liability and potential hikes in premiums.
Contention
Despite the overall support for the bill, there are points of contention primarily from the insurance industry. Concerns were expressed about the financial implications for insurers, who might face increased claims as a result of this legislative change. Critics argue that the bill could lead to higher premiums for consumers due to the expanded coverage requirements. Additionally, there are discussions about the fairness of extending protection in cases of theft, where individuals might have some responsibilities as vehicle owners.
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Prohibits automobile insurance policies from disclaiming uninsured or underinsured motorist coverage based on use of motor vehicle owned by insured's employer.
Prohibits automobile insurance policies from disclaiming uninsured or underinsured motorist coverage based on use of motor vehicle owned by insured's employer.