MS HB1397

Allows the Mississippi Windstorm Underwriting Association to use nonadmitted policy fee revenue for education, public outreach, training of building officials, and programs to reduce policies within the association.

Exempts policies covering residential earthquake risks and residential flood risks (not written through the National Flood Insurance Program) from the 3% nonadmitted policy fee.

Extends the repeal date of the nonadmitted policy fee provision from July 1, 2014 to July 1, 2018.

Requires surplus lines insurance producers to collect and remit the nonadmitted policy fee to the association within 20 days of each quarter.

Takes effect July 1, 2014.