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WV SB661

Bill

Official Source

Status

Introduced

1/29/2026

Primary Sponsor

Mike Oliverio

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Amends West Virginia fire and marine insurance law (§33-17-9) to clarify coverage options for commercial real property insurance policies
  • Allows insurers and commercial property owners to agree on any coverage amount, including values below full replacement cost
  • Permits policies to be written at Replacement Cost Value, Actual Cash Value (depreciated), market value as determined by a qualified appraiser, or any other mutually agreed amount
  • Introduced January 29, 2026, by Senators Oliverio, Clements, and Takubo and referred to the Committee on Banking and Insurance

Legislative Description

Clarifying commercial real property insurance policies

Insurance

Last Action

To Banking and Insurance

1/29/2026

Committee Referrals

Banking and Insurance1/29/2026

Full Bill Text

No bill text available