Legislation that should speed up the repair process for insured vehicles by clarifying that insurance companies can retrieve automobiles from towing yards was signed into law last week, according to the National Association of Independent Insurers (NAII).
The NAII-sponsored bill, HB 2267, requires a towing company to release a towed vehicle to an authorized representative of the insurance company that insurers the vehicle. Currently, some towing yards only release a vehicle to the vehicle’s owner.
“The current situation delays the repair process and leads to higher costs,” said Sam Sorich, NAII vice president and western regional manager. “This new law will enable insurers to obtain vehicles more quickly to start on repairs. The new law will help insurance companies provide better service to their customers. At the same time, the law assures the towing yards that insurers have proper authorization to obtain vehicles.”
The bill will take affect 90 days after the legislature adjourns.
Topics Carriers Legislation
Was this article valuable?
Here are more articles you may enjoy.
USAA Not Done With Dividends: Florida Reforms Prompt $500M Payout 
D&O Market Expected to Tighten Under Pressure, Says AM Best 
Acrisure Goes After Former Owners of Businesses it Acquired for Leaving to Compete 
Miami Moves to Seize Part of Posh Island After Fuel Fight 
