Washington Democratic Gov. Christine Gregoire signed legislation yesterday that would make it easier to convict insurers of bad faith and impose triple damages.
Her signature came despite pleas from insurance groups who argue that the measure will spur unnecessary lawsuits.
The American Insurance Association, the National Association of Mutual Insurance Companies and the Property Casualty Insurers Association of America had all urged the Democratic chief executive to veto SB 5726, the Insurance Fair Conduct Act.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.