HB1391 Summary

• Creates a new limited lines insurance license for self-service storage facility owners to sell, solicit, and offer self-service storage insurance to occupants without requiring owners or their employees to be licensed as insurance producers.

• Requires facility owners to provide occupants with written materials disclosing that insurance may duplicate existing coverage, purchase is not required to rent a space, and detailing coverage terms, deductibles, benefits, claim procedures, and cancellation rights.

• Prohibits direct compensation from insurers to facility owners or employees for sales, though compensation may be included in overall performance incentive programs tied to facility operations.

• Requires facility owners to obtain commissioner approval, file acknowledgments of responsibility for employee representations, maintain employee training programs supervised by insurers, and maintain registries of authorized locations available for commissioner inspection.

• Establishes grounds for license suspension or revocation including fraud, misrepresentation, dishonest practices, conviction of felonies, unfair trade practices, and failure to comply with insurance laws or commissioner orders.