Missouri Legislature limits insurance company payouts - KAIT Jonesboro, AR - Region 8 News, weather, sports

Missouri Legislature limits insurance company payouts

(Source: AP Graphics Bank) (Source: AP Graphics Bank)

JEFFERSON CITY, Mo. (AP) - A bill on Gov. Eric Greitens' desk would limit how much money insurance companies would have to pay after accidents.

The proposal, approved by both the Missouri House and Senate, would affect cases where multiple people are owed money from an insurance company, such as after a car accident in which a driver hurts multiple people. If Greitens signs the bill, the driver's insurance company could not be obligated to pay more than is listed in its contract, even if the driver was later sued.

Proponents say this will protect insurance companies from having to pay unreasonable amounts of money.

Opponents say this opens individual policy holders up to more risk.

The bill is HB 1531

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