SB118 Alabama 2019 Session

Sponsors

Session

Regular Session 2019

Title

Homeowner's Insurance, companies writing to offer fortified bronze roof endorsement upgrading home to fortified standard when roof damage requires roof to be replaced, Sec. 27-31D-4 added.

Description

<p class="bill_description"> Under existing law, insurance companies are required to provide a premium discount or insurance rate reduction for insurable properties that meet certain fortified building standards</p><p class="bill_description"> This bill would require all insurance companies writing homeowners insurance policies to offer an endorsement that upgrades a home to a fortified standard adopted by the Institute for Business and Home Safety (IBHS) when the insured incurs roof damage covered by the policy that will require a roof to be replaced</p><p class="bill_entitled_an_act"> Relating to insurance; to add Section 27-31D-4 to the Code of Alabama 1975; to require all insurance companies writing homeowners insurance to offer an endorsement that upgrades a home to a fortified standard adopted by the Institute for Business and Home Safety (IBHS) when the insured incurs damage covered by the policy that will require the roof to be replaced; to specify when the endorsement offer shall be made; to require insurance companies to file the endorsement form and accompanying rates at least 90 days before the effective date of this bill; to authorize the Commissioner of Insurance to adopt rules to implement this bill; and to provide an effective date. </p>

Subjects

Insurance