AB 512
Revises provisions relating to casualty insurance. (BDR 57-1089)
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Bill overview
This bill expands the definition of "casualty insurance" to include "legal expenses insurance," which covers costs associated with legal services and expenses. It clarifies that this insurance doesn't include prepaid legal arrangements or contracts where attorneys receive fixed payments. The bill codifies existing regulations regarding insurers' limitations on reducing liability limits or otherwise restricting coverage for legal defense costs in casualty insurance policies. It also clarifies certain exemptions for risk retention groups, captive insurers, and nonadmitted insurers.
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Primary sponsor
Assembly Committee on Commerce and Labor
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