Governor signs insurance consumer protection bills
PIERRE -- Gov. Dennis Daugaard on Thursday signed House Bill 1054, "An Act to establish consumer protection standards regarding certain insurance claim practices and to provide for certain penalties."
The legislation is part of a four-bill package, proposed by the Governor, to strengthen insurance consumer protection laws.
The earlier bills, which have already been signed into law, were:
• House Bill 1050, "An Act to revise certain enforcement actions by the insurance director."
• House Bill 1052, "An Act to authorize additional disclosure regarding certain insurance investigations and examinations."
• Senate Bill 52, "An Act to authorize the informal settlement of insurance examinations."
"I appreciate the support from legislators and industry partners in passing this important reform legislation," Daugaard said. "These steps will allow consumers to have confidence in the value of their insurance plans."