Bad Faith Legislation doesn’t get passed in Rhode Island
If passed, Rhode Island Senate Bill (SB) 2323 and 2229 would have allowed anyone who is under a performance, payment or fiduciary bond (claimants, principals and obligees) to file claim against the surety bond company for a bad faith refusal to pay a claim, settle on a claim, or for failing to perform their obligations in a timely manner. The Senate Bill would have authorized claimants to go after both punitive and compensatory damages, and even attorney fees, and other costs associated with the lawsuit.
The following two tabs change content below.
Robin Kix is currently the Renewal Department Manager. Since joining Lance Surety in 2014, she has helped thousands of businesses throughout the nation remain compliant at the federal, state and local level. She has significant experience supporting commercial bond lines, particularly in the automobile, transportation and construction industries. Robin and her team work together to create a positive customer service experience at the time of every policy renewal, whether that be finding the best pricing or offering additional assistance.
Latest posts by Robin Kix (see all)
- Calling All Louisiana Dealers: Time to Renew Your Bonds - February 16, 2022
- Hurry Up, Nebraska Auto Dealer Bonds Expire in Less than Two Months - February 16, 2022
- Weighing the Good and the Bad for Contractors in 2022 - February 10, 2022