OLR Bill Analysis

sSB 318

AN ACT CONCERNING SINGLE LIMIT LIABILITY PASSENGER MOTOR VEHICLE INSURANCE POLICIES.

SUMMARY:

Starting October 1, 2012, this bill prohibits insurers from issuing, renewing, amending, or endorsing an automobile insurance policy for a passenger motor vehicle that has a single limit of liability against claims for personal injury or death and property damage. CGS Sec. 14-112 requires motorists to demonstrate insurance or other types of financial responsibility to cover claims of at least (1) $ 20,000 for the injury or death of one person, (2) $ 40,000 for the injury or deaths of more than one person in a single accident; and (3) $ 10,000 of property damage. In practice, some insurers offer policies with a single limit, e. g. , $ 50,000 for all claims arising from an accident.

EFFECTIVE DATE: October 1, 2012

COMMITTEE ACTION

Insurance and Real Estate Committee

Joint Favorable