HB 269 Summary

• Establishes a limited lines insurance license for self-service storage facility owners to sell, solicit, and offer stored property insurance coverage to occupants.

• Requires facility owners to provide occupants with written or electronic materials disclosing that insurance purchase is optional, may duplicate existing coverage, and includes material terms such as identity of insurer, price, deductible, benefits, exclusions, and claim filing procedures.

• Mandates that insurers or their supervising entities develop training programs for facility owner employees and authorized representatives who sell stored property insurance.

• Allows facility owners to bill and collect insurance premiums and receive compensation for billing services; premiums must be held in fiduciary capacity and remitted to the insurer within sixty days.

• Sets initial license fee of $2 plus $1 per year for renewal; existing owners must apply for licensure within ninety days of application availability, and new operators must obtain license before offering coverage.