An Act to provide prompt payment following settlement by insurance company

This bill (HD 1282) requires insurance companies to pay settled amounts to plaintiffs within 21 days of receiving a properly executed release document. It directly affects insurance companies and plaintiffs involved in settlements where an insurer pays on behalf of a defendant. The key provision mandates a strict 21-day payment timeline after the plaintiff provides the required release. This change aims to speed up payments following settlement agreements without altering insurance coverage terms or liability rules.