The American Insurance Association on Tuesday called upon the Vermont State Legislature’s House Commerce Committee to reject a bill (H. 79) that would expand underinsured motorist coverage and increase auto insurance costs for consumers in the state. The bill would reverse a Vermont Supreme Court decision in the case of Colwell vs. Allstate.
“The Department of Banking, Insurance, Securities and Health Care Administration studied coverage issues raised by H. 79 in a report to the legislature dated January 15, 2004. Based on information from companies surveyed for the report, the department concluded that this legislation was likely to result in an increase in automobile insurance premiums in Vermont,” said Laura Kersey, AIA assistant vice president, northeast region.
“The study was based on a survey of 27 states and it found that Vermont’s current underinsured motorist statute is consistent with the majority of those states,” added Kersey.
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