Colorado:

June 5, 2008, Colorado Governor, Bill Ritter approved Senate Bill 11, abolishing subrogation for all medical payment coverage under auto insurance policies to be in effect of January 1, 2009.  The new Colorado law will be in effect as of January 1, 2009.

According to the bill and recent addition of subsection 3(a) of Colorado statute 10-4-635, the exclusion of subrogation applies to “automobile insurance policies issued, delivered, or renewed on or after the applicable effective date of this act.”  At the effective date, automobile carriers with subrogation interest will need to confirm when any policy was issued or renewed.  If the policy pre-dates January 1, 2009, then the auto carrier will be able to pursue subrogation.

New Jersey:

A bill which will affect private passenger automobile insurance policies and reimbursement of property damage deductibles is being considered by The New Jersey Legislature. Assembly Bill 2301 requires an automobile carrier to reimburse the policy’s deductible within 180 days of the “filing of the claim by the insured” when the carrier subsequently subrogates the claim.  If a carrier does not comply with reimbursement in the allotted amount of time, the auto carrier with consequently face a 12% interest fee.

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This entry was posted by Adam V. Russo on Wednesday, June 11th, 2008 at 10:28 am and is filed under Colorado, New Jersey, Subrogation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.