§431:13-102 Unfair methods of competition; unfair or deceptive acts or practices prohibited. No person shall engage in this State in any trade practice which is defined in this article as, or determined pursuant to section 431:13-106 to be, an unfair method of competition or an unfair or deceptive act or practice in the business of insurance. [L 1987, c 347, pt of §2]
An insurer that does not respond promptly to a party's settlement demand and does not negotiate settlement in good faith may violate section. 73 H. 412, 835 P.2d 627 (1992).
Discussed: 95 F.3d 791 (1996); 458 F. Supp. 2d 1167 (2006).