Legislative Update
Legislative Update | January 2020
Published January 21, 2020 - Written by IAA, Inc.
Summary
IAA, Inc. is dedicated to being pro-active when monitoring legislative and regulatory matters that affect our customers and our industry. We believe being engaged with legislation is critical to the auto auction industry to promote responsible business conduct and continued healthy expansion. IAA works with lobbyists, insurance companies and other industry participants to ensure our customers’ needs are met when it comes to legislative matters that may impact the industry.
New Bills
Florida House Bill 359
Introduced Jan 14, 2020
Among other changes, this bill reduces the requirement for authentication level for electronic signature on an odometer disclosure from level 3 to level 2 for a salvage certificate of title. NIST Level 2 provides for single-factor remote network authentication, such as a password. This is beneficial for insurers and their salvage processors because it allows automation of the title process with minimal input from the insured or other third parties in a transaction.
IAA Position: Support
Missouri House Bill 1952
Introduced Jan. 8, 2020
This bill was introduced on behalf of IAA. The bill will help a salvage pool that takes possession of a vehicle at the request of an insurer, when the insurer does not purchase the vehicle through the claims process, to apply for a salvage title in the name of the salvage pool if the vehicle has remained unclaimed on the salvage pool’s facility for more than thirty days. Currently, there is no process for salvage pools to dispose of abandoned vehicles. In addition, the bill provides a process for an insurer to obtain a title for a vessel if the insurer paid a total loss claim but is unable to obtain the certificate of title or other acceptable evidence of title from the vehicle owner or lienholder. The process is the same as the current process insurers follow to obtain a title for a motor vehicle when the certificate of title is unavailable.
IAA Position: Support
Tennessee Senate Bill 1597
Introduced Jan 14, 2020
The bill provides that if an insurance company or a salvage pool operator authorized by the insurance company is unable to obtain the properly endorsed certificate of ownership or other evidence of ownership acceptable to the department within thirty (30) calendar days following the acceptance by the owner of an offer of an amount in settlement of a total loss, the insurance company or salvage pool operator, on a form provided by the department and signed under penalty of perjury, may request the department to issue a salvage certificate for the vehicle. The request must include written confirmation by the requestor that the insurance company has paid the claim and that the requester has made at least two (2) written attempts via commercial delivery service with evidence of delivery to the last known address of the owner to obtain the certificate of ownership or other acceptable evidence of title and must include the fee as set by the department.
IAA Position: Support
For more information about IAA's legislative and regulatory activities, contact:
Katerina Dotzeva
Director of Government Affairs, IAA, Inc.
800.821.4596
