12-555

12-555. Uninsured and underinsured motorist
coverage; claims; time limits

A. An insurer is not liable for uninsured motorist coverage benefits unless the
person making the claim gives written notice to the insurer of the person's intent to
pursue the claim against the uninsured motorist portion of a motor vehicle policy within
three years after the date of the accident that caused the bodily injury, except that a
person may make an uninsured motorist claim within three years after the earliest of the
following:

1. The date the person knew that the tortfeasor was uninsured.

2. The date the person knows or should have known that coverage was denied by the
tortfeasor's insurer.

3. The date the person knows or should have known of the insolvency of the
tortfeasor's insurer.

B. An insurer is not liable for underinsured motorist coverage benefits unless the
person making the claim gives written notice to the insurer of the person's intent to
pursue the claim against the underinsured motorist portion of a motor vehicle policy
within three years after the date of the accident that caused the bodily injury and the
person has made a claim with the tortfeasor's insurer or filed an action against the
tortfeasor within the time limits prescribed by section 12-542 or within the
corresponding limitation period provided under the law of the location where the accident
occurred. Notwithstanding this subsection, a person may make an underinsured motorist
claim within three years after the date the person knows or should have known that the
tortfeasor has insufficient liability insurance to cover the person's injuries.

C. If settlement of an uninsured or underinsured motorist claim is not reached:

1. The insurer shall provide written notice to the person at the last known address
on record with the insurer by first class mail, within two years after receiving the
written notice prescribed in subsection A or B of this section, that the person must
request arbitration or file suit pursuant to the terms of the insurance contract within
three years after providing the written notice prescribed in subsection A or B of this
section or the insurer is not liable for uninsured motorist coverage benefits or
underinsured motorist coverage benefits.

2. A person shall request arbitration or file suit pursuant to the terms of the
insurance contract within three years after providing the written notice prescribed in
subsection A or B of this section. If the person does not comply with this paragraph, the
insurer is not liable for uninsured motorist coverage benefits or underinsured motorist
coverage benefits.

D. An insurer shall bring an action for subrogation and reimbursement pursuant to
section 20-259.01 within two years after the date the insurer first makes payment to the
insured under the uninsured motorist coverage.