MS HB753

Requires insurance companies authorized to offer homeowners insurance in Mississippi to annually submit to the Insurance Department (beginning October 1, 2014) data on direct incurred losses, number of policies in force, direct earned premiums, and information broken down by zip code for the prior calendar year.

Mandates the Insurance Department compile and post aggregated data from all insurance companies on its website by zip code, including separate reporting by peril type (fire, wind/hail, and other perils) and catastrophe wind/hail information.

Requires the Insurance Department to post on its website a general description of the rate-making methodology allowed for establishing homeowners insurance rates.

Imposes a $2,500 monthly fine on insurance companies that fail to comply with reporting requirements after a 90-day notice period, with collected funds deposited into the Municipal Fire Protection Fund.

Protects individual insurer data as confidential trade secrets but allows the department to release aggregated information across all insurers; requires 10 business days notice before release of confidential information by court order.