The Vermont Legislature's House Commerce Committee is considering a bill, H 79 that would change the definition of underinsured motorist coverage.
The American Insurance Association urged the committee to reject the bill. “The Department of Banking, Insurance, Securities, and Health Care Administration studied coverage issues raised by H 79 in a report to the legislature dated Jan. 15, 2004,” said Laura Kersey, AIA assistant vice president, northeast region. “The department concluded that this legislation was likely to result in an increase in automobile insurance premiums in Vermont.”
Under the terms of the current act, a vehicle is underinsured if its personal injury limits of liability are less than the limits of uninsured motorists coverage applicable to any injured party legally entitled to recover damages.
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