| SB 0256 | Insurance companies may not refuse to insure an eligible person's interest in residential property |
| Sponsor: | Bland | |||
| LR Number: | L0721.01I | Fiscal Note: | 0721-01 | |
| Committee: | Insurance and Housing | |||
| Last Action: | 01/20/99 - Referred S Insurance & Housing Committee | Journal page: | S125 | |
| Title: | ||||
| Effective Date: | August 28, 1999 | |||
SB 256 - Under this act, an insurer may not refuse to insure
an eligible person's interest in residential property. The act
requires insurance agents to provide prospective insureds
accurate premium quotations for their property and obligates the
agent to submit the insured's application for insurance to the
insurer. The insurer shall explain to each prospective insured
why it is canceling or refusing to renew a policy. An insurer
shall not penalize an individual agent because of the geographic
location of the business written by the agent.
STEPHEN WITTE