The Commissioner shall provide by rule or regulation procedures for the expeditious and efficient settlement of first-party property damage claims under personal private passenger motor vehicle policies. Such procedures may include, but shall not be limited to: (1) Loss of use reimbursements; (2) Cost of repairs; (3) Determination of fair market value on total losses; (4) Use of aftermarket parts; (5) Time limitations for payments of claims for property damage by insureds; and (6) Establishment of a panel for arbitration of disputed property damage claims where such claims involve total losses. The Commissioner shall provide by rule or regulation procedures for the expeditious and efficient settlement of first-party property damage claims under personal private passenger motor vehicle policies. Such procedures may include, but shall not be limited to: (1) Loss of use reimbursements; (2) Cost of repairs; (3) Determination of fair market value on total losses; (4) Use of aftermarket parts; (5) Time limitations for payments of claims for property damage by insureds; and (6) Establishment of a panel for arbitration of disputed property damage claims where such claims involve total losses. The Commissioner shall provide by rule or regulation procedures for the expeditious and efficient settlement of first-party property damage claims under personal private passenger motor vehicle policies. Such procedures may include, but shall not be limited to: (1) Loss of use reimbursements; (2) Cost of repairs; (3) Determination of fair market value on total losses; (4) Use of aftermarket parts; (5) Time limitations for payments of claims for property damage by insureds; and (6) Establishment of a panel for arbitration of disputed property damage claims where such claims involve total losses. The Commissioner shall provide by rule or regulation procedures for the expeditious and efficient settlement of first-party property damage claims under personal private passenger motor vehicle policies. Such procedures may include, but shall not be limited to: (1) Loss of use reimbursements; (2) Cost of repairs; (3) Determination of fair market value on total losses; (4) Use of aftermarket parts; (5) Time limitations for payments of claims for property damage by insureds; and (6) Establishment of a panel for arbitration of disputed property damage claims where such claims involve total losses.
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