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HB 15-B: Insurance

GENERAL BILL by Driskell ; (CO-INTRODUCERS) Arrington ; Bracy Davis ; Casello ; Cassel ; Cross ; Daley ; Eskamani ; Gottlieb ; Harris ; Hinson ; Joseph ; Robinson, F.

Insurance; Creates Property Insurance Commission; provides for election of Commissioner of Insurance Regulation; revises homeowners' eligibility criteria for mitigation grants; requires interests earned on insurance proceeds received by mortgagees & assignees to be paid to insureds; requires property insurers to cap premiums or to create sliding fee scales for premium rates; prohibits property insurers from using certain defenses as claims denials; revises requirements for risk assignment agreements; requires OPPAGA to conduct study of effectiveness of property insurance mediation program; increases appropriation to specified program. APPROPRIATION: $300,000,000

Effective Date: 7/1/2023
Last Action: 2/10/2023 House - Died, introduction refused
Bill Text: PDF

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