Senate Bill 2055 Summary

• Amends insurance law to prohibit property and casualty insurance companies from offering special or reduced fire insurance rates for properties in rural fire protection districts unless current dues or subscription payments have been paid.

• Requires insurance agents and companies to obtain proof of current payment (receipt, canceled check, or other valid proof) before issuing or renewing fire insurance policies with location-based rate discounts.

• Allows rural fire protection districts and departments to provide payment verification within 15 days upon request from insurers or insured parties.

• Imposes administrative penalties on agents who violate these requirements: $25 for first violation and $50 for subsequent violations.

• Effective date: November 1, 2014.