This bill would require property insurers to clearly notify their insureds at the application process and at renewal of the range of premium discounts, credits, differentials, reduced deductibles, or other policy savings available on properties having fixtures or construction techniques demonstrated to help reduce windstorm damage
Insurers of commercial properties would be required to notify applicants and policyholders that a premium reduction may be available if steps have been taken to reduce windstorm damage, and to contact the agent for further information
Relating to residential property insurance providers; to require insurers at application and renewal to clearly notify the applicant and policyholder of the availability of each premium discount, credit, rate differential, lower deductible, or policy premium cost saving for properties having fixtures or construction techniques demonstrated to reduce the amount of loss or damage in a windstorm; and to require commercial property insurers to notify applicants and policyholders of the possibility of premium reductions for improvements for windstorm resistance.
|April 19, 2012
|Read for the first time and referred to the House of Representatives committee on Insurance
|HB722 Alabama 2012 Session - Introduced