PRINTER'S NO. 1269
No. 960 Session of 2003
INTRODUCED BY SCHWARTZ, KUKOVICH, TARTAGLIONE, COSTA, STOUT,
WAGNER, O'PAKE, BOSCOLA, RAFFERTY, STACK, LAVALLE, WOZNIAK,
MUSTO, M. WHITE AND C. WILLIAMS, NOVEMBER 12, 2003
REFERRED TO BANKING AND INSURANCE, NOVEMBER 12, 2003
AN ACT
1 Amending the act of May 17, 1921 (P.L.682, No.284), entitled "An
2 act relating to insurance; amending, revising, and
3 consolidating the law providing for the incorporation of
4 insurance companies, and the regulation, supervision, and
5 protection of home and foreign insurance companies, Lloyds
6 associations, reciprocal and inter-insurance exchanges, and
7 fire insurance rating bureaus, and the regulation and
8 supervision of insurance carried by such companies,
9 associations, and exchanges, including insurance carried by
10 the State Workmen's Insurance Fund; providing penalties; and
11 repealing existing laws," providing for automobile insurance
12 claim information reports and public disclosure.
13 The General Assembly of the Commonwealth of Pennsylvania
14 hereby enacts as follows:
15 Section 1. The act of May 17, 1921 (P.L.682, No.284), known
16 as The Insurance Company Law of 1921, is amended by adding a
17 section to read:
18 Section 2012.1. Claim Information Reports and Public
19 Disclosure.--(a) By October 15 of each year, an insurer shall
20 report to the commissioner information regarding claims made by
21 consumers on policies as follows:
22 (1) Name and address of the insured which gave rise to the
1 claim being made.
2 (2) Age of the insured.
3 (3) Insured's policy number.
4 (4) Nature and substance of the accident or incident that
5 gave rise to the claim.
6 (5) Date when and place where the accident or incident that
7 gave rise to the claim occurred.
8 (6) Name, age and address of the claimant.
9 (7) Amount, manner and date of final disposition of the
10 claim on the policy, by judgment, settlement or otherwise.
11 (8) Any litigation expenses incurred, if applicable.
12 (9) Any additional information that may be required by the
13 commissioner.
14 (b) By March 1 of each year, the commissioner shall prepare
15 a report, which shall include the following for the preceding
16 calendar year:
17 (1) The total and average amount of claims made on
18 automobile insurance policies.
19 (2) Severity of claims, organized by age of insured and
20 amount paid per claim.
21 (3) Market share and experience data for all insurers
22 writing automobile insurance. This shall include:
23 (i) Premiums written.
24 (ii) Premiums earned.
25 (iii) Losses paid.
26 (iv) Losses incurred.
27 (v) Loss ratio.
28 (c) A statistical summary of the information in the report
29 shall be made available to the public and posted on the World
30 Wide Web site of the Insurance Department.
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1 Section 2. This act shall take effect in 60 days.
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