2006 House Bill 5634

Restrict liability limitation in insurer/auditor contracts

Introduced in the House

Feb. 3, 2006

Introduced by Rep. Morris Hood (D-11)

To prohibit an independent public accountant who audits an insurance company from entering an indemnification agreement with the insurer that limits or transfers the accountant's liability for failing to follow applicable auditing standards, even if the failure is due to a misrepresentation by the insurance company.

Referred to the Committee on Insurance