This bill aims to exempt certain insurers from the unfair claims settlement practice requirements, specifically targeting captive insurance entities, with the exception of risk retention groups. The proposed changes will modify existing legal frameworks to provide these exemptions, thereby altering the regulatory landscape for these types of insurers.

Additionally, the bill includes amendments to Sections 33-18-242 and 33-28-207 of the Montana Code Annotated (MCA). While the specific language of the amendments is not detailed in the summary, the focus is on clarifying the status of captive insurance entities in relation to claims settlement practices, ensuring that they are not subject to the same requirements as traditional insurers.

Statutes affected:
SB0260_1.pdf: 33-18-242, 33-28-207
Introduced: 33-18-242, 33-28-207