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| 4 | 4 | ||
| 5 | 5 | 2023 -- S 1048 | |
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| 7 | 7 | LC002982 | |
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| 9 | 9 | S TATE OF RHODE IS LAND | |
| 10 | 10 | IN GENERAL ASSEMBLY | |
| 11 | 11 | JANUARY SESSION, A.D. 2023 | |
| 12 | 12 | ____________ | |
| 13 | 13 | ||
| 14 | 14 | A N A C T | |
| 15 | 15 | RELATING TO INSURANCE -- LIABILITY INSURANCE | |
| 16 | 16 | Introduced By: Senator Mark P. McKenney | |
| 17 | 17 | Date Introduced: May 19, 2023 | |
| 18 | 18 | Referred To: Senate Judiciary | |
| 19 | 19 | ||
| 20 | 20 | ||
| 21 | 21 | It is enacted by the General Assembly as follows: | |
| 22 | 22 | SECTION 1. Chapter 27-7 of the General Laws entitled "Liability Insurance" is hereby 1 | |
| 23 | 23 | amended by adding thereto the following section: 2 | |
| 24 | 24 | 27-7-1.1. Wasting policies prohibited. 3 | |
| 25 | 25 | Every policy written insuring against liability for property damage or personal injuries or 4 | |
| 26 | 26 | both, and every policy written indemnifying any person by reason of that liability, other than the 5 | |
| 27 | 27 | payment of compensation under chapters 29 through 38 of title 28, shall state a policy limit to be 6 | |
| 28 | 28 | available in full for payment of such claims. No portion of the policy limit may be used for the 7 | |
| 29 | 29 | payment of fees or costs to defend a claim. 8 | |
| 30 | 30 | SECTION 2. This act shall take effect upon passage. 9 | |
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| 32 | 32 | LC002982 | |
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| 36 | 36 | LC002982 - Page 2 of 2 | |
| 37 | 37 | EXPLANATION | |
| 38 | 38 | BY THE LEGISLATIVE COUNCIL | |
| 39 | 39 | OF | |
| 40 | 40 | A N A C T | |
| 41 | 41 | RELATING TO INSURANCE -- LIABILITY INSURANCE | |
| 42 | 42 | *** | |
| 43 | 43 | This act would require that insurance policies for property damage, personal injuries, and 1 | |
| 44 | 44 | indemnification other than payment of compensation for workers compensation, state policy limits 2 | |
| 45 | 45 | and no amount of the policy may be used to pay costs to defend a claim. 3 | |
| 46 | 46 | This act would take effect upon passage. 4 | |
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| 48 | 48 | LC002982 | |
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