MS HB811

Requires the Commissioner of Insurance to establish regulations creating uniform policy language regarding when hurricane deductibles apply to homeowner's insurance policies

Mandates the Commissioner to develop a standardized form of notice that insurers must provide to homeowners when utilizing hurricane deductible programs

Maintains existing requirements that homeowner's policies with percentage-based windstorm deductibles for named storms must offer an actuarially sound buy-back provision

Preserves the waiver process allowing insurance companies to request exemption from the buy-back requirement, with all review costs borne by the petitioning insurer

Effective date of July 1, 2013