Washington, DC (PRWEB) March 16, 2015
Steven Suchil, Western region assistant vice president for the American Insurance Association (AIA), issued the following statement urging Oregon legislators to oppose SB 313, a second lawsuit bill, and SB 314, which would add a redundant and costly layer of regulation. SB 313 would permit attorneys to file two lawsuits against an insurance company, instead of one, for both the disputed claim and how the claim was handled. SB 314 would unnecessarily expand the Unlawful Trade Practices Act to include insurance practices already regulated by the Unfair Claim Settlement Practices Act.
Mr. Suchil’s statement follows:
“AIA strongly opposes SB 313 and SB 314 and urges Oregon legislators to vote NO on both bills.
“If enacted, SB 313 would create a new cause of action, including class actions, for insurance practices that are already prohibited and authorize the recovery of punitive damages, attorney fees and court costs. When other states enacted similar measurers, it only increased the number of lawsuits and fraudulent claims, as well as insurance costs.
“SB 314 would unnecessarily eliminate the insurance exemption in the Unlawful Trade Practices Act. Under the Unfair Claim Settlement Practices Act, insurers are already regulated, and consumers are protected, by the Oregon Insurance Division. This bill would merely add another layer of burdensome and bureaucratic regulation on insurers.”