SB 903 - Currently, offers to settle any claim for personal injury, bodily injury, or wrongful death on behalf of a claimant that are required to be accepted within a specified period of time by a tort-feasor with a liability insurer are required to contain the time period within which the offer remains open for acceptance, which shall not be less than ninety days from the date such demand is received by the liability insurer. This act modifies the provision by providing that in any action alleging extracontractual damages against the tort-feasor's liability insurer, any prior offers to settle any claim for personal injury, bodily injury, or wrongful death on behalf of a claimant to a tort-feasor with a liability insurance policy shall not be considered a reasonable opportunity to settle the claim unless the settlement demand remains open for acceptance for at least ninety days from the date such settlement demand was received by the liability insurer, and if the offer remains open for more than ninety days, the offer shall contain the time period within which acceptance may be given.
This act is identical to SB 466 (2023) and a provision in SB 708 (2023) and is substantially similar to HB 2277 (2024) and HB 1009 (2023).
KATIE O'BRIEN
Statutes affected: Introduced (4261S.01):
537.058
Senate Committee Minutes: SENATE COMMITTEE MINUTES Bill No.: SB 903
Sponsor: Schroer
Hearing Date: 1/17/2024
COMMITTEE: Insurance and Banking
CHAIRMAN: Crawford
DATE REFERRED: 1/11/2024 DATE HEARING REQUESTED: 1/11/2024
STAFF:
Barbara Mustoe
Scott Svagera
Eric Vander Weerd
WITNESSES GIVING INFORMATION:
WITNESSES FOR:
Michael Henderson - Missouri Insurance Coalition
Clay Crawford - Shelter Insurance Companies
Rich AuBuchon - American Property Casualty Insurers Association/Missouri Civil Justice Reform Coalition, Inc.
Matt Barton - Missouri Association of Insurance Agents
David Overfelt - Associated Industries of Missouri/Missouri Retailers Association/Missouri Grocers Association
Heidi Geisbuhler Sutherland - Missouri Chamber of Commerce and Industry
Brian Bernskoetter - Missouri Organization of Defense Lawyers
WITNESSES AGAINST:
Amy Gunn - Missouri Association of Trial Attorneys