SB 754

  • Virginia Senate Bill
  • 2022 Regular Session
  • Introduced in Senate Jan 21, 2022
  • Passed Senate Feb 04, 2022
  • Passed House Mar 09, 2022
  • Signed by Governor Apr 11, 2022

Motor vehicle insurance; uninsured motor vehicle.

Abstract

Motor vehicle insurance; underinsured motor vehicle. Requires any motor vehicle liability insurance policy issued, delivered, or renewed in the Commonwealth after July 1, 2023, to include a specific statement regarding the insurer requirements to provide underinsured motorist coverage that pays any damages due to an insured in addition to any bodily injury or property damage liability that is applicable to the insured's damages. The bill requires that the endorsement or provisions of a motor vehicle liability policy to provide uninsured motorist insurance coverage also provide underinsured motorist insurance coverage with limits that are equal to the uninsured motorist insurance coverage limits. Under the bill, underinsured motorist coverage shall be paid without any credit for the bodily injury and property damage coverage available for payment, unless any named insured elects to reduce any underinsured motorist coverage payments by notifying the insurer. If an injured person is entitled to underinsured motorist coverage under one or more policies wherein a named insured has elected to reduce the underinsured motorist limits by the available bodily injury liability insurance or property damage liability insurance coverage available for payment, any amount available for payment shall be credited against such policies in payment priority established in current law, and where there is more than one such policy entitled to such credit, the credit shall be apportioned pro-rata pursuant to the policies' respective available underinsured motorist coverages. The bill also provides that taxicab operators may fulfill their insurance filing requirement by showing evidence of a certificate of self-insurance. The bill requires, with regard to the self-insurance protection of a taxicab operator, the amount of bodily injury or property damage liability coverage available for payment from any source to be credited against and reduce the amount of protection otherwise available against an underinsured motorist.

Motor vehicle insurance; underinsured motorvehicle. Requires any motor vehicle motor vehicle liability insurance policy issued, delivered, or renewed in the Commonwealthafter July 1, 2022, to include a specific statement regarding theinsurer requirements to provide underinsured motorist coverage thatpays any damages due to an insured in addition to any bodily injuryor property damage liability that is applicable to the insured'sdamages. Under the bill, underinsured motorist coverage shall bepaid without any credit for the bodily injury and property damagecoverage available for payment, unless any named insured elects toreduce any underinsured motorist coverage payments by notifying theinsurer. If an injured person is entitled to underinsured motoristcoverage under more than one policy, he may elect to receive a creditto the extent that the available liability coverage exceeds the amountof underinsured motorist coverage from a higher priority policy.The bill also provides that taxicab operators may fulfill their insurancefiling requirement by showing evidence of a certificate of self-insurance.

Bill Sponsors (2)

Votes


Actions


Apr 11, 2022

Office of the Governor

Approved by Governor-Chapter 308 (effective 7/1/23)

Mar 22, 2022

Office of the Governor

Governor's Action Deadline 11:59 p.m., April 11, 2022

Senate

Enrolled Bill Communicated to Governor on March 22, 2022

Mar 14, 2022

Senate

Impact statement from SCC (SB754ER)

Mar 11, 2022

Senate

Signed by President

House

Signed by Speaker

Senate

Enrolled

Mar 09, 2022

House

VOTE: Passage (83-Y 15-N 1-A)

House

Passed House (83-Y 15-N 1-A)

House

Read third time

Mar 08, 2022

House

Passed by for the day

Mar 07, 2022

House

Read second time

Mar 03, 2022

House

Reported from Commerce and Energy (14-Y 8-N)

Feb 23, 2022

House

Read first time

House

Placed on Calendar

House

Referred to Committee on Commerce and Energy

Feb 07, 2022

Senate

Impact statement from SCC (SB754S1)

Feb 04, 2022

Senate

Read third time and passed Senate (37-Y 1-N 1-A)

Feb 03, 2022

Senate

Engrossed by Senate - committee substitute SB754S1

Senate

Read second time

Senate

Committee substitute agreed to 22105623D-S1

Senate

Reading of substitute waived

Feb 02, 2022

Senate

Constitutional reading dispensed (40-Y 0-N)

Jan 31, 2022

Senate

Senate committee, floor amendments and substitutes offered

Senate

Committee substitute printed 22105623D-S1

Senate

Reported from Commerce and Labor with substitute (15-Y 0-N)

Jan 25, 2022

Senate

Impact statement from SCC (SB754)

Jan 21, 2022

Senate

Referred to Committee on Commerce and Labor

Senate

Presented and ordered printed 22104918D

Bill Text

Bill Text Versions Format
Presented and ordered printed 22104918D PDF HTML
Committee substitute printed 22105623D-S1 PDF HTML
SB754ER PDF HTML
CHAP0308 PDF HTML

Related Documents

Document Format
Fiscal Impact Statement: SB754FER171.PDF PDF
Fiscal Impact Statement: SB754FS1171.PDF PDF
Fiscal Impact Statement: SB754F171.PDF PDF

Sources

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