WYOMING HOUSE PANEL VOTES TO LIMIT CLAIMS INFORMATION.

The Wyoming House Corporations Committee has voted to approve legislation opposed by insurers that would limit industry use of loss histories on homes.

Insurers object to provisions of HB 0040 which would place restrictions on the use of information insurers receive regarding damage to a home when it doesn't result in payments.

They says there are many reasons why a payment may not be made ( ranging from claims that do not exceed the deductible to fraud. And even in a situation where the insured does not receive a check, they say, the company may still have incurred expenses investigating the loss.

"If damage to the property is reported and there appears to be the intention of pursuing available coverage, the insurer is obligated to consider this call as a claim," said Sam Sorich, vice president and western region manager for the Property Casualty Insurers Association of America (PCI).

"Sometimes hidden damage is discovered after a loss occurs, or in the case of a liability claim, a lawsuit may be filed at a later date. So it is always important to have a record of the call and that damage occurred," he said.

"Loss history reports on individual dwellings are a vital source of information that companies need to adequately assess the risk associated with insuring a particular home," he said.

Sorich suggested if the bill is passed, insurers may pull out of the state.

"These kinds of restrictions ultimately make it difficult for companies to do business in the state and could lead to the unintended consequence of companies getting out of the homeowners business in Wyoming. We don't want to see that."

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