SB 833 – Modifies homeowner's insurance premium rate calculation factors and requires an insurer to pay for structural damage to property in certain instances

• Sponsor: Walsh
• LR Number: 4949S.01I
• Committee: Small Business, Insurance and Industry
• Last Action: 2/27/2014 - Second Read and Referred S Small Business, Insurance and Industry Committee
• Journal Page: S435
• Effective Date: August 28, 2014

Current Bill Summary

SB 833 - This act prohibits an insurer from considering claims history of a previous owner on a property when determining insurance rates for the current owner. This act also requires that an insurer pay a claim for verifiable structural damage without regard to any misrepresentations as to personal property included in the claim.

MICHELA BIRK