MS HB482

Reenacts the Property Insurance Clarity Act (Sections 83-79-1 through 83-79-13), requiring insurers authorized to sell homeowners insurance in Mississippi to submit policy and premium data to the Department of Insurance every three years

Insurers must report direct incurred losses, earned premiums, policy limits, reinsurance, allocated loss adjustment expenses, and number of policies in force by zip code for three categories: policies with windstorm coverage, policies without windstorm coverage, and windstorm-only policies

Department of Insurance may publish aggregated data (not company-specific) on its website and issue data calls for catastrophe wind/hail information following specific catastrophic events

Insurers failing to comply with reporting requirements face a $2,500 per month fine after a 90-day notice period, with collected fines deposited into the Municipal Fire Protection Fund

Extends the repeal date of the Property Insurance Clarity Act from July 1, 2022 to July 1, 2025