SB118 Alabama 2019 Session

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

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

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.