The bill amends Section 27-10.3-1 of the General Laws regarding the mandatory arbitration provision for motor vehicle liability insurance. It increases the threshold for claims that can be submitted to arbitration from fifty thousand dollars ($50,000) to one hundred thousand dollars ($100,000). This change allows parties involved in motor vehicle liability claims for amounts at or below this new limit to opt for arbitration.

The bill specifies that a party may, at their election, submit the matter to arbitration whenever the claim is for one hundred thousand dollars ($100,000) or less, pursuant to chapter 3 of title. The act is set to take effect upon passage.

Statutes affected:
5932: 27-10.3-1