On July 5, 2017, Governor Eric Greitens signed House Bills 339 and 714, which will have a significant impact on Missouri insurance law. The consolidated bill will go into effect on August 28, 2017.
In his article "Governor Greitens Signs New Law to Curb Collusive Insurance Company Bad Faith Set-Ups,” Patrick Bousquet discusses the new law and how it will affect insurance companies. He mentions significant changes brought by this recent legislation, including:
- Should a 537.065 agreement be entered into between the tortfeasor and the injured, the insurer will receive a copy of the contract reflecting the parties’ agreement at least thirty days prior to trial.
- Insurers now can intervene as a matter of right in the pending lawsuit where a 537.065 agreement has been entered; giving insurers back some element of control over the “trial” proceedings.
- With the addition of section 537.058, time-limited demands will now have uniform characteristics and statutory citations to avoid any mistakes regarding when insurance obligations are triggered by a demand.