Amends TCA Title 56, Chapter 2.

Under this bill, an insurance company must provide written notice to a claimant at the same time payment of a settlement of a third-party liability claim is made by the insurance company by draft, check, or otherwise to the claimant’s attorney or representative.<br /> <br /> However, this bill does not create a cause of action for a natural person or entity, other than the commissioner of commerce and insurance, against the insurance company based on either a failure to serve notice or defective service of notice. Nor does this bill establish a defense for a party to a cause of action based upon a failure to serve notice or defective service of notice. This bill also does not invalidate or otherwise affect the settlement for which the payment was made by the insurance company. <br /> <br /> This bill authorizes the commissioner to promulgate rules to effectuate this bill.<br />