Massachusetts H1303 mandates insurers to pay settled damages within 21 days of receiving a release.
Massachusetts H1303 amends Chapter 175 of the General Laws to require insurers to pay the full amount due to settling plaintiffs within 21 days of receiving a duly executed release. This applies to any insurer that has agreed to pay all or part of the settlement on behalf of a settling defendant. The bill aims to ensure prompt payment following settlement by insurance companies.
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