Budget Amendment ID: FY2021-S4-154

TRP 154

Under Insurance Coverage

Mr. Feeney moved that the proposed new text be amended by adding the following new section:

SECTION XX.

Paragraph 2 of section 113L of Chapter 175 of the General Laws, as so appearing in the 2018 Official Edition, is hereby amended by inserting after the first sentence the following sentence: -

The coverage described in this paragraph shall also apply when, by reason of payment of judgment or settlement, the bond amount or policy limit of the tortfeasor has been reduced by the payment of multiple claims arising from the same accident to an amount less than the policy limit for uninsured motor vehicle coverage, and only to the extent that the uninsured motor vehicle coverage limits exceed the amount paid to the insured pursuant to the exhausted bodily injury liability bond or policy.