Nelson v. Hartford Ins. Co. of Midwest, 2012 WL 5874457 (D. Mont.) Montana’s Unfair Trade Practices Act requires third-parties pursuing a claim under the Act to do so within one year from teh the date of the settlement or entry of judgment in the underlying claim, § 33-18-242 (7)(b) MCA. A claim or cause of action accrues when all elements of the claim or cause exist or have occurred, the right to maintain an action on the claim or cause is complete, and a court or other agency is authorized to accept jurisdiction of the action. This means the statute of limitations begins to run when “the last fact essential to the cause of action” occurs, regardless of whether the damages are complete. Common-law bad-faith claims are governed by the three year statute of limitations applicable to torts. § 27-2-204 MCA