SB 728: Residential Property Insurance

GENERAL BILL by Senator Jeremy Ring

Companion House Bill 753 (Rep. Doug Holder)

Residential Property Insurance; Amending provisions relating to checklists of policy contents; applying provisions to commercial lines residential insurance policies entered into on or after a certain date; revising provisions relating to the disclosure of certain insurer and policy information to claimants; revising provisions relating to deductibles included in policies entered into on or after a certain date; allowing deductibles for windstorm losses; providing that the failure to provide certain statements on a policy will result in voiding certain deductibles; providing that the deductible for hurricane losses is based on dwelling policy limits for insurance contracts entered into on or after a certain date, specifying that certain provisions relating to deductibles must be stated in the policy, capping the amount of the deductible, and providing that failure to provide certain notice requirements voids a separate deductible for hurricane or windstorm losses, etc.

EFFECTIVE DATE: July 1, 2012

PLEASE CLICK HERE FOR ORIGINALLY FILED VERSION!