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MS HB563
Bill
Status
Failed
3/2/2010
Primary Sponsor
Richard Bennett
Click for details
AI Summary
- Directs the Mississippi Commissioner of Insurance to establish a "Mississippi Homeowners Insurance Policyholder Bill of Rights" covering homeowners, renters/tenants, and mobile home/manufactured housing property coverage, including reasonable time frames for processing and paying claims.
- Prohibits insurers from treating a policyholder differently from others of the same class and essentially the same hazard when evaluating a claim, unless based on sound actuarial principles.
- Requires insurers to provide at least 30 days' written notice before renewal if the premium will increase by 10% or more; otherwise, the policy renews at the same rate and coverage.
- Places the burden of proof on insurers in civil actions under all-risk or all-perils homeowners policies to demonstrate by a preponderance of evidence that any policy exclusion, exception, or coverage avoidance applies.
- Requires a copy of the Policyholder Bill of Rights to be included with every homeowners, renters, or mobile home insurance policy delivered, issued, or renewed in the state, with an effective date of July 1, 2010.
Legislative Description
Mississippi Insurance Policyholder Bill of Rights; create.
Last Action
Died In Committee
3/2/2010
Full Bill Text
No bill text available