This bill mandates that insurance companies must disclose the liability coverage limits of an insurance policy when requested in writing by a claimant or the claimant's attorney in cases involving personal injury, bodily injury, or death resulting from a motor vehicle collision. The disclosure must be made within 60 days of receiving the request and is to be used solely in connection with the claim or lawsuit.

The bill also establishes penalties for insurers who fail to comply with this requirement. Non-compliant insurers are subject to a penalty of $500, in addition to reasonable attorney's fees and expenses incurred by the claimant or claimant's attorney in obtaining the coverage limits. The act is set to take effect on January 1, 2025.