h_sa_2017a_2017-04-19t13:39:10z2 Hearing Summary

Date: 04/19/2017

Location: LSB A

05:12 PM -- SB17-182



Representative Lontine called the committee back to order.



Representative Willett and Representative Neville presented Senate Bill 17-182. The reengrossed bill clarifies that an insurer is not required to reimburse a policyholder for an amount that exceeds actual damages caused during a collision covered by an uninsured or under-insured motorist (UM/UIM) coverage policy, and defines UI/UIM vehicles. The maximum liability of the insurer is the lesser of:



• the difference between the limit of UM/UIM coverage and the amount paid to the insured by or for any person or organization who may be held legally liable for the bodily injury; or

• the amount of damages sustained but not recovered.



The bill also allows UM/UIM policies to contain provisions that prohibit stacking the limits of more than one policy, if the provisions are included in a single policy covering multiple vehicles or in multiple policies issued by one insurer or by insurers under common ownership or management. However, stacking of UM/UIM policies issued to an insured by different companies or to an unrelated person is permitted. The Insurance Commissioner in the Department of Regulatory Agencies must accept policies that prohibit stacking the limits of more than one UI/UIM coverage policy.



05:23 PM -- Kelly Campbell, Property and Casualty Insurance Association of America, testified in support of the bill. Ms. Campbell answered questions from the committee.





05:32 PM



Representative Neville made comments to the committee. Ms. Campbell answered additional questions from the committee.



05:51 PM -- Darin Schanker, Colorado Trial Lawyers Association, testified against the bill. Mr. Schanker answered questions from the committee.





06:05 PM



Representative Willett made comments to the committee. Mr. Shanker answered additional questions from the committee.



06:11 PM -- Gary Frisch, Professional Independent Insurance Agents of Colorado, testified in support of the bill.



06:15 PM -- Gary Dyer, Farmers Insurance, testified in support of the bill.



06:18 PM -- Baille Barbour, State Farm Insurance, testified in support of the bill.





06:22 PM



Mr. Dryer answered questions from the committee.



06:24 PM -- Saul Sarney, Colorado Trial Lawyers Association, testified in opposition to the bill. Mr. Sarney answered questions from the committee.



06:37 PM -- Richard Orona, Colorado Defense Lawyers Association, testified in support of the bill. Mr. Orona answered questions from the committee.



06:48 PM -- Jackie Booker, representing herself, testified in support of the bill.





06:53 PM



Representative Willett and Representative Neville made concluding remarks about the bill.