Bill
HD 3337
Overview: Bill Number: HD 3337, Title: An Act relative to insurance settlements, Status: Proposed Bill, Introduced: November 29, 2025Purpose and Intent: This proposed bill aims to
Overview: Bill Number: HD 3337, Title: An Act relative to insurance settlements, Status: Proposed Bill, Introduced: November 29, 2025
Purpose and Intent: This proposed bill aims to address concerns about the fairness and transparency of insurance settlement practices, particularly in the context of personal injury claims. The primary goal is to protect consumers and ensure that they receive fair and timely compensation from insurance companies.
Key Provisions:
- Requires insurance companies to provide a detailed explanation of their settlement offers, including the specific factors and calculations used to determine the proposed amount.
- Mandates that insurance companies respond to settlement offers within a specified timeframe, such as 30 days, and provide a written explanation for any denials or counteroffers.
- Allows for the recovery of attorney's fees and other legal costs if a plaintiff is awarded a significantly higher amount than the insurance company's final offer.
- Establishes a mediation process for disputes over settlement amounts, with the option for binding arbitration if the parties cannot reach an agreement.
- Imposes penalties and fines on insurance companies that engage in unfair or deceptive settlement practices.
Affected Parties and Impacts:
- Individuals seeking insurance settlements, particularly for personal injury claims, would benefit from the increased transparency and fairness requirements.
- Insurance companies would need to adapt their settlement practices to comply with the new regulations, which may impact their overall costs and profitability.
- The legal community, including attorneys and mediators, would play a more prominent role in the settlement process.
Procedural and Timeline Considerations:
This bill is currently in the proposed stage, having been introduced in the legislature. It will need to go through the standard legislative review process, including committee hearings and potential amendments, before a final vote can be taken.
Compiled from official sources — confirm details with the bill’s official record.
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