NO. 9. AN ACT RELATING TO MOTOR VEHICLE INSURANCE AND UNDERINSURED MOTOR VEHICLES.
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. 23 V.S.A. § 941 is amended to read:
§ 941. INSURANCE AGAINST UNINSURED MOTORISTS
* * *
(f) For the
purpose of this subchapter, a motor vehicle is underinsured to the extent that
personal injury limits of liability at the time of an accident are less than
the limits of uninsured motorists coverage applicable to any injured party
legally entitled to recover damages under said uninsured motorist coverage:
(1) the liability insurance limits applicable at the time of the accident are less than the limits of the uninsured motorist coverage applicable to the insured; or
(2) the available liability insurance has been reduced by payments to others injured in the accident to an amount less than the limits of the uninsured motorist coverage applicable to the insured.
Within 30 days of receipt of a written request by a person
reasonably claiming the right to recover damages from after an
accident involving owners or operators of motor vehicles for bodily injury,
sickness, or disease, including death, or for property damages resulting
from the ownership, maintenance, or use of a motor vehicle, an insurer
that may be liable to satisfy part or all of the claim under a policy subject
to this chapter shall provide a statement, by a duly authorized agent of the
insurer, setting forth the names of the insurer and insured , and the limits
of liability coverage.
Sec. 2. EFFECTIVE DATE
This act shall take effect 30 days after passage. A contract of insurance issued or renewed in the state on or after January 1, 2006 which provides uninsured motorist coverage shall include contractual provisions in compliance with this act as of the date of issuance or renewal.
Approved: April 27, 2005
The Vermont General Assembly
115 State Street