MARCH 5, 2020 - House Bill 2049, sponsored by Rep. Mary Elizabeth Coleman, corrects loopholes that have been exploited by clever attorneys in working with defendants against the defendants' insurance companies. The bill received initial final approval in the Missouri House today.
Associated Industries of Missouri worked on compromise language that was included by amendment in the bill to ensure the loophole is closed without unintended consequences.
"This bill is good for all businesses, regardless of statements to the contrary by some representatives as the bill was debated," said Ray McCarty, president and CEO of Associated Industries of Missouri. "We have worked with the insurance industry to ensure our interests as the holders of insurance policies are protected as we work to stop attorneys from exploiting loopholes they have created since we enacted similar legislation in previous sessions."
The bill now moves to the Missouri Senate for further consideration.