MS HB862

Amends Section 83-34-1 of the Mississippi Code to revise the definition of "essential property insurance" for the Mississippi Windstorm Underwriting Association.

Changes requirement for windstorm and hail coverage from "actual cash value" to "replacement cost" of the structure and contents being insured.

Applies to insurance against direct loss to property from windstorm and hail risk, as defined in standard real property and contents insurance forms approved by the Insurance Commissioner.

Takes effect July 1, 2018.