AL SB231

Property insurers must clearly notify residential policyholders at policy issuance and renewal of available premium discounts, credits, rate differentials, reduced deductibles, and other cost savings for properties with windstorm-resistant fixtures or construction techniques.

The notice for residential policies must describe generally what measures policyholders may take to reduce their windstorm premiums.

Commercial property insurers must notify applicants and policyholders at policy issuance and renewal that premium reductions may be available if steps have been taken to prevent or reduce windstorm damage, and direct them to contact their agent, broker, or insurer for details.

The requirements apply only to policies issued or renewed after the act's effective date.

The act becomes effective on the first day of the third month following passage and approval by the Governor.