HB 1269 Summary

• Adds new Chapter 14 to IC 27-7-14 establishing requirements for insurance policies regarding environmental coverage, effective July 1, 2013.

• Defines "environmental coverage" as insurance coverage for injuries, damages, cleanup costs, or expenses arising from discharge, dispersal, release, or escape of pollutants, hazardous substances, hazardous waste, petroleum, or regulated substances.

• Specifies that an insurance policy does not provide environmental coverage if it contains specified exclusionary language regarding bodily injury or property damage from pollutant discharge or dispersal.

• Exempts from this chapter policies covering bodily injury from hostile fire, and first-party property damage coverage for residential dwellings of not more than four units or personal property used for household purposes.

• Requires insurers issuing or renewing policies after January 1, 2014 that contain the specified environmental coverage exclusions to provide policyholders with written notice stating the policy does not provide environmental coverage.