Show Consumer No-Fault No Insurance Bill Rill Studied il i When Utah's 1973 Legislature convenes January 8 in the State Capitol the lawmakers will find at least two no-fault no automobile Insurance bills ready for their consideration The latest bill to head forthe forthe for forthe the legislative hopper is titled the Consumer Protection Automobile Automobile Automobile Auto Auto- mobile Liability Law drafted by the Utah Trial Lawyers Association An earlier no-fault no bill was written by the no- no fault insurance sub-committee sub of the Utah Legislative Council The sub-committee sub was headed by State Senator E E. E LaMar Buckner manager of an Ogden Insurance agency The consumer protection bill billis billis billis is a far reaching far reaching measure touching on many angles of Utah's automobile Insurance problems It is designed according ac according according ac- ac cording to Its Us backers to place the consumer first In modernizing our insurance laws The consumer protection no- no fault bill contains the following major provisions Makes It mandatory for all insurance policies issued in the state to have a first party no-fault no clause or to require a no-fault no bond In the case of self insurers to cover medical and loss of Income benefits with a maximum total reimbursement reimbursement reimbursement not to exceed 2500 According to a national Department Department Department Depart Depart- ment of Transportation study t this his 2500 reimbursement would cover approximately 95 of income and losses where the losses resulted from froman an automobile accident Medical reimbursement would be based on costs while loss of income would be based on 85 of lost Income not to exceed per week When a non- non Income producing person such as a housewife was Injured the bill would provide reImbursement reimbursement for reasonable household expenses not to ex exceed exceed exceed ex- ex 10 per day The proposed law would also provide benefits of up to 1000 per person for funeral burial or cremation expenses expenses ex expenses ex- ex and a death benefit of 2000 per person payable to the heirs of the deceased Requires benefits under the no-fault no policy to be paid by the Insurance company without reference to fault The bill bUl specifically states that under no condition in the no-fault no measure would the pedestrian motorist or automobile automobile automobile auto auto- mobile owner lose the right to sue another person In court if the damage reimbursement has been insufficient or unfair Such liability and reimbursement would then be decided by the court as at present The proposed law states that no fault benefits are payable monthly as loss would be considered overdue overdue overdue over over- due if not paid within 30 days after proof of injury or damage has been given to the insurance company In certain cases of accrued losses the insurance company would be required to tomake tomake tomake make reimbursement within 45 days after the losses began Overdue payments that payments that Is payments not made within the 30 or 45 days as defined in the law would law would bear Interest at the rate of 18 per annum payable to the Injured person The consumer no-fault no bill would require every automobile owner or driver to carry in insurance insurance insurance in- in or a surety bond In he case of self Insurers In the amount of not less than for bodily injury or death of one person and 40 for bodily Injury or death of two or more persons In any anyone one accident Similarly the proposed law would re require require re- re require quire liability insurance or surety bond providing a minimum minImum minimum mini minI- mum of coverage for property damage in any anyone one accident Under terms of the consumer bill Insurance policyholders would be protected against arbitrary arbitrary arbitrary arbi arbi- cancellation or re non newal of their policies for any 1 reason other than payment non-payment of premiums A policyholder would also be protected against I an increase in rates or a decrease de decrease decrease de- de crease in coverage unless the increase In premium or reduction reduction reduction tion in coverage is part of a general change approved by the state department of Insurance |