Reforms aimed at protecting consumers from bad actors
By Mika Pangilinan
Illinois and Indiana join a growing list of states that have enacted public adjuster reform legislation.
The Illinois public adjuster bill (SB 1495) passed both houses of the legislature last week and now moves to the governor. On the other hand, Indiana Governor Eric Holcomb recently signed HB 1329, which increases data transparency and allows an insured to cancel or cancel the contract with a public adjuster.
These bills follow similar steps in other states, building on the work done by the American Property Casualty Insurance Association (APCIA) with industry partners and legislators.
“This is a continuation of APCIA’s work with lawmakers to protect consumers from being victimized again by bad actors who sometimes target hurricane victims after disasters,” said Ronald Jackson, vice president, state government relations in the southeast region for APCIA.
Earlier this year, Kentucky enacted HB 232, which changes the provisions governing the licensing of public adjusters and regulates the fees they can charge.
Similarly, Georgia established a regulatory framework for public adjusters through HB 254. This year, the state also passed HB 222, which changes the requirements for public adjuster contracts to ensure that no conflicts of interest.
In addition to its public adjuster reform legislation, Indiana also introduced legislation related to delivery network companies (DNCs) and third-party litigation funding.
HB 1125 establishes insurance requirements for DNCs to help close potential insurance gaps for delivery drivers. Meanwhile, HB 1124 requires that third-party litigation funding agreements be disclosed during civil proceedings, encouraging transparency and preventing potential conflicts of interest.
Brooke Kelley, assistant vice president of state government relations for APCIA, praised Indiana’s actions, saying the state has struck the right balance between consumer protections and informed decisions. in insurance.
“The legislature and Gov. Holcomb’s actions continue to move Indiana in a positive direction by striking the right balance of consumer protections by making informed insurance decisions while protecting an insurer’s proprietary information,” Kelley said.
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