Washington: OIC Posts Consumer Education Notice on Insurance Fair Conduct Act

The Insurance Fair Conduct Act went into effect on Dec. 6. The new law was approved by Washington voters last month. The law allows policyholders the legal right to seek punitive damages and attorney’s fees in court if their insurance claims are unreasonably denied by their insurance company or their insurance company violates Washington Administrative Codes regulations governing unfair claims settlement practices.

Pursuant to the new law, any policyholder who intends to sue his or her insurance company must mail written notice of the pending lawsuit to the insurance company and to the Office of the Insurance Commissioner at least 20 days prior to the filing of the lawsuit.

The OIC has posted on its website detailed information on the new law, how to file the written notice with the OIC and the approved form to use when submitting said notice to the department.

Direct questions to NAMIC State Affairs Manager Christian J. Rataj.

Posted: Tuesday, December 11, 2007 12:00:00 AM. Modified: Tuesday, December 11, 2007 1:30:19 PM.

(317) 875-5250 - Indianapolis | (202) 628-1558 - Washington, D.C.

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We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.