MS SB2588

Prohibits insurers from applying hurricane deductibles or percentage wind deductibles to property damage claims caused by wind, wind gusts, hail, tornado, or cyclone from sources other than a named hurricane or tropical storm as declared by the National Hurricane Center.

Applies to insurance contracts covering dwellings and other buildings.

Requires the Commissioner of Insurance to penalize violating insurers with fines up to $10,000 per separate violation and authority to revoke or suspend their licenses.

Permits the Commissioner to impose additional penalties under Mississippi Code Title 83.

Directs the Department of Insurance to promulgate rules necessary to implement and administer the requirements.