Senate Bill 29, sponsored by Sen. Brandon Storm, advanced unanimously out of the House Banking and Insurance Committee on Feb. 21.
The bill prohibits the assignment of benefits under a property or casualty policy and prohibits the requirement to use a certain motor vehicle glass shop. The bill is a priority initiative for the insurance industry during the 2024 session. The House Committee accepted a committee substitute that clarifies provisions around the assignment for certain rights and credits to the underinsured provisions of the bill.
The bill is expected to be considered on the House floor in the coming days before advancing to the governor. NAMIC is supportive of the bill and looks forward to its final enactment.
Post Details
Publish Date
February 22, 2024
News Type
- State of the States
Topics
- Kentucky
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