NAMIC opposes ‘dangerous’ expansion of Maine Unfair Claims Law in the strongest possible terms

Legislation before a Maine legislative committee is unnecessary and would lead to higher costs for individuals and businesses, according to the National Association of Mutual Insurance Companies (NAMIC). Rather than helping insurance consumers as its name suggests, An Act to Provide for Prompt Resolution of Insurance Claims by Providing for a Direct Remedy by Consumers, would actually lead to higher costs through increased litigation and higher claims settlement costs, NAMIC told the Joint Standing Committee on Insurance and Financial Services today.