Loading chat...
OH HB559
Bill
Status
7/22/2010
Primary Sponsor
John Domenick
Click for details
AI Summary
-
Enacts section 3929.40 of the Revised Code to require insurers offering basic property or homeowners insurance to provide a minimum coverage policy option.
-
Permits minimum coverage policies to include maximum benefits that are less than the replacement value of the insured dwelling.
-
Requires mortgagees to accept minimum coverage policies as adequate insurance when mortgage applicants are required to obtain basic property or homeowners insurance.
-
Applies the mortgagee acceptance requirement to mortgages obtained on or after the effective date of the act.
Legislative Description
To require insurers to offer minimum coverage policies of homeowners or basic property insurance.
Homeowner/basic property insurance-insurers offer minimum coverage policies
Last Action
To Insurance
7/22/2010