The bill amends Section 27-9.1-4 of the General Laws under the "Unfair Claims Settlement Practices Act" to enhance protections for consumers against unfair claims practices by insurers. It raises the threshold for required motor vehicle damage appraisals from $2,500 to $5,000 and mandates that insurers perform an initial appraisal within four business days of a request from an auto body repair shop. The bill also emphasizes the use of fair market values as recognized by the automotive or insurance industry when determining vehicle values.

Additionally, the bill specifies that the licensed appraiser must be unaffiliated with the repair motor vehicle and clarifies that the appraisal cannot be based solely on pictures of the damaged vehicle. The amendments will take effect upon passage, with a specific effective date of January 1, 2025, for the defined unfair claims practices.

Statutes affected:
5571: 27-9.1-4