by KPMLAW | Sep 12, 2016 | KPMBlog, News, Uncategorized
Written by Erin Slusser, Esq. Edited by Janeen Koch, Esq. KPM LAW is pleased to offer its special Legislative update. This update contains summaries of bills of interest to our readers that were enacted by the General Assembly in its 2016 session and that took effect as of July 1, 2016. This information is taken from the Summary of the 2016 Session of the General Assembly published by the Division of Legislative Services. The abbreviations used are as follows: HB – House Bill; SB – Senate Bill. If you wish to read the entire text of a bill to see how it changed the previously existing law, you may visit the Virginia General Assembly Legislative Services website at http://virginiageneralassembly.gov. Automobile, commercial liability, and homeowners insurance policies; notices: This bill restores the ability of insurers, when sending certain types of notices, including notice of cancellation or nonrenewal of a motor vehicle, commercial liability, or homeowners insurance policy, to use mailing methods for which a certificate of mailing is obtained from the United States Postal Service, provided that certificates of bulk mail are not permissible. The measure also clarifies that Intelligent Mail Barcode Tracing is a permitted first-class mail tracking method and clarifies that insurers are required to maintain records regarding the sending of such notices for one year, regardless of the method used to send the notice. See HB 31; Va. Code Ann. 38.2-231. Structured Settlement Protection Act; amends Act so obligor and issuer may rely on court order. This bill amends the Structured Settlement Protection Act (the Act) to provide that the structured settlement obligor and the annuity issuer...
