SENATE BILL 805

Sponsored By:

Senator Klausmeier, Middleton, and Stone

Entitled:

Homeowner's Insurance Premiums - Escrow - Substantial Property Damage

Synopsis:

Authorizing a consumer to request the Insurance Commissioner to review the amount of a premium that the consumer has paid or will pay for residential real property under a homeowner's insurance policy; requiring the Commissioner to determine if the premium may need to be decreased to reflect the loss of value of the property; requiring the Commissioner to consider if certain claims have been denied or approved for an amount that is less than the amount needed to return the property to the condition it was in prior to the event; etc.

History by Legislative Date

Senate Action

2/16

First Reading Senate Rules

2/23

Re-referred Finance

2/25

Hearing 3/9 at 1:00 p.m.

3/25

Unfavorable Report by Finance

House Action

No Action

Sponsored by:

Senator Katherine Klausmeier, District 8

Senator Thomas McLain Middleton, District 28

Senator Norman R. Stone, Jr., District 6

Bill indexed under the following Subjects:

CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES

EMERGENCIES

ESCROW ACCOUNTS

INSURANCE ADMINISTRATION

INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS

NOTICES

PRICES -see also- CONSUMER PRICE INDEX

REAL PROPERTY

RULES AND REGULATIONS

Bill affects the following Statute:

Insurance

( 27-304.2 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered