Bill to raise minimum auto limits races ahead
As we near the June 30 end of the first of this new two-year session of the Delaware General Assembly, insurance-related legislative activity quickly is picking up steam. Amidst the flurry of activity in Legislative Hall, we scored a win this week when the House on Wednesday passed our legislative priority – a bill that would raise minimum auto liability limits – by voice vote.
House Bill 114, sponsored by Rep. Bryon Short, chair of the House Insurance Committee, would raise the minimum auto liability limits from the current limits of 15/30/5 to 25/50/10. (The original bill had set the new limits at 30/60/10, but this was amended prior to the House vote at the behest of the carrier groups.) The bill also corrects an inconsistency in the law related to the property damage minimum limit: Although the current law sets the property damage limit at $5,000, the standard minimum written in Delaware at this time is $10,000.
HB 114 has been sent to the Senate and likely will come before the Senate Insurance Committee for consideration in the near future. Your IA&B government affairs team is at work to ensure that the bill does not lose momentum before session adjourns for the year.
Stay tuned to Agent Headlines for future updates on this and other legislative issues impacting the agent and broker community.