HB 254 Summary

• Requires property insurers to provide written notice to policyholders at least [specified days] before renewal if premiums increase 10% or more, including explanations of causes and breakdown of premium calculation by category (risk factors, claims history, market conditions, coverage changes, and administrative costs).

• Mandates insurers file annual rate schedules, underwriting criteria, and reports with the Insurance Commissioner detailing average premium increases, reasons for increases, and total policyholder complaints.

• Establishes a Public Reporting and Dispute Resolution Program allowing policyholders to file complaints and appeals challenging premium increases, with the Commissioner required to acknowledge receipt within 5 business days, investigate within 30 calendar days, and order refunds if violations are found.

• Prohibits insurers from taking retaliatory action against policyholders who file complaints or appeals.

• Requires insurers to offer premium discounts or credits for disaster risk mitigation measures such as wind-resistant roofing, flood-proofing systems, and fire suppression systems.