West Virginia Lawmakers Set Sights on Automobile and Homeowners Insurance
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Updated: 8:55 AM May 6, 2003
West Virginia Lawmakers Set Sights on Automobile and Homeowners Insurance
WTAP News
This after a lengthy battle over medical malpractice insurance.
Posted: 12:01 AM May 6, 2003
Reporter: Gil McClanahan
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After a lengthy battle over medical malpractice insurance, the West Virginia Legislature is setting its sights on the automobile and homeowners insurance markets.

A number of insurers have either stopped selling such policies or are tightening their terms. A joint legislative committee plans to find out why during the Legislature's monthly interim meetings.

May's interims are going on this week in Charleston.

Insurance companies complain that state law unfairly limits when they can cancel or refuse to renew home and auto policies. They also want a ban on so-called third-party bad faith lawsuits. These lawsuits are filed by non-policyholders who allege the company failed to try to resolve a claim fairly.

Lawmakers also plan to study the pros and cons of captive insurance companies, which sell exclusively to a pool of related policyholders such as hospitals or nursing homes.

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