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Introduced Version House Bill 3197 History

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Key: Green = existing Code. Red = new code to be enacted


H. B. 3197


(By Delegate McGraw)
[Introduced March 30, 2001; referred to the
Committee on Banking and Insurance then the Judiciary.]




A BILL to amend article twelve, chapter thirty-three of the code of West Virginia, one thousand nine hundred thirty-one, as amended, by adding thereto a new section, designated section twenty-two-a, relating to liability of insurance agent or broker when a malpractice insurer becomes insolvent.

Be it enacted by the Legislature of West Virginia:
That article twelve, chapter thirty-three of the code of West Virginia, one thousand nine hundred thirty-one, as amended, be amended by adding thereto a new section, designated section twenty-two-a, to read as follows:
ARTICLE 12. AGENTS, BROKERS, SOLICITORS AND EXCESS LINE.

§33-12-22a. Liability for amounts above guaranty account when malpractice coverage placed in solvent insurer.

An agent, broker or excess line broker is jointly and severally liable for the excess above the amount covered by the insurance guaranty association act created by article twenty-six of this chapter for a malpractice claim when the agent, broker or excess line broker places any malpractice coverage in an insurer that becomes insolvent.



NOTE: The purpose of this bill is to
make insurance agents or brokers liable for malpractice claims above the amount paid by the insurance guaranty association when a malpractice insurer becomes insolvent.

This section is new; therefore, strike-throughs and underscoring have been omitted.
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