MS SB2617

Amends Section 83-13-5 of the Mississippi Code to exclude builders' risk policies from fire insurance coverage provisions that apply to other property insurance policies.

Existing law prohibits fire insurance companies from issuing policies exceeding fair property value or lasting longer than five years, and prohibits three-quarter value clauses on fire insurance.

Builders' risk policies are now exempted from these restrictions, allowing different underwriting standards and policy terms for construction-related insurance.

Becomes effective upon passage.