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MS HB484
Bill
Status
Failed
2/1/2022
Primary Sponsor
Rob Roberson
Click for details
AI Summary
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Extends the repeal date for the nonadmitted policy fee statute from July 1, 2022 to July 1, 2025
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Requires surplus lines insurance producers to collect a 3% fee on all premiums for policies from nonadmitted insurers and remit it to the Mississippi Windstorm Underwriting Association
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Exempts policies covering residential earthquake risks and residential flood risks (not written through the National Flood Insurance Program) from the nonadmitted policy fee
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Fees must be remitted to the association within 20 days after the end of each quarter
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Effective date of July 1, 2022
Legislative Description
Surplus lines insurance; extend repealer on statute prescribing nonadmitted policy fee for.
Last Action
Died In Committee
2/1/2022
Committee Referrals
Insurance1/6/2022
Full Bill Text
No bill text available