MS HB391

Extends the repeal date of Mississippi Code Section 83-34-4 from July 1, 2022 to July 1, 2028, continuing the nonadmitted policy fee requirement.

Maintains the 3% nonadmitted policy fee on all premiums from surplus lines insurance producers placing insurance through nonadmitted insurers, with exemptions for residential earthquake and flood risks.

Requires surplus lines insurance producers to remit collected nonadmitted policy fees to the association within 20 days of the end of each quarter.

Directs nonadmitted policy fee revenues to fund association programs for education, public outreach, and building official training aimed at reducing association policies.

Effective date: July 1, 2022.