Legislative Update | July 2018
Published July 13, 2018 - Written by IAA, Inc.
Insurance Auto Auctions actively monitors and engages on legislative and regulatory matters to help promote responsible business conduct and continued healthy expansion of the salvage auto auction industry. IAA's Government Affairs Department works with lobbyists, insurance companies and others to support legislative bills that are beneficial to the industry and all of its participants.
Delaware Senate Bill 174
Effective July 11, 2018
This bill was introduced on behalf of IAA.
First, the new law provides a process for an insurance company to apply for a salvage certificate when it has paid a total loss claim on a vehicle but is unable to obtain the vehicle’s title from the owner.
Second, it allows a salvage pool that is in possession of a vehicle that was brought to the salvage pool at the direction of an insurance company to apply for a salvage certificate if the insurance company has declined coverage and the vehicle was abandoned at the salvage pool facility by the vehicle owner or lienholder.
Implementation of this measure should streamline the process of obtaining title to a vehicle for which an insurer has fully met its obligations to its insured and any lienholder of record and should relieve the costs and time burdens experienced in such situations.
For more information about IAA's legislative and regulatory activities, contact:
Director of Government Affairs, Insurance Auto Auctions