Bill
SD 614
Overview: Bill Number: SD 614, Title: An Act appointing temporary qualified appraisers for damage covered by auto insurance policies, Status: House concurred, Introduced: February
Overview: Bill Number: SD 614, Title: An Act appointing temporary qualified appraisers for damage covered by auto insurance policies, Status: House concurred, Introduced: February 27, 2025, Classification: proposed bill
Purpose and Intent: The primary purpose of this bill is to streamline the process of assessing and determining the value of vehicle damage covered by auto insurance policies. The legislation aims to provide a more efficient and transparent system for both insurers and policyholders.
Key Provisions:
- Authorizes the state insurance commissioner to appoint temporary, qualified appraisers to assess vehicle damage claims.
- Requires insurers to accept the valuations provided by the state-appointed appraisers as the basis for claim settlements.
- Establishes guidelines and qualifications for the temporary appraisers, including training and certification requirements.
- Provides a dispute resolution process for policyholders who disagree with the state-appointed appraiser's valuation.
Affected Parties and Impacts:
- Auto insurance policyholders will benefit from a more standardized and transparent process for assessing vehicle damage claims.
- Insurance companies will be required to accept the state-appointed appraisers' valuations, potentially impacting their claim settlement procedures.
- The state insurance commissioner's office will be responsible for managing the temporary appraiser program, including recruitment, training, and oversight.
Procedural and Timeline Considerations:
The bill has been passed by the House and is currently awaiting concurrence in the Senate. If approved, the legislation would take effect 90 days after enactment, allowing the state insurance commissioner's office time to establish the temporary appraiser program and guidelines.
Compiled from official sources — confirm details with the bill’s official record.
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