Mississippi Legislature
2007 Regular Session

House Bill 1426

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Bill Text

History of Actions

Background

Title

Description: Wind pool; policyholders may select higher deductible percentage and receive lower premium rates.

Bill Text: [Introduced]

History of Actions:

1 01/15 (H) Referred To Insurance
2 01/30 (H) Died In Committee

Background Information:

Effective dateJuly 1, 2007
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority

House Committee:

Principal Author: Wells-Smith

Additional Author: Upshaw

Code Section: A 083-0034-0015

Title: AN ACT TO AMEND SECTION 83-34-15, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT HOLDERS OF INSURANCE POLICIES ISSUED BY THE MISSISSIPPI WINDSTORM UNDERWRITING ASSOCIATION (WIND POOL) MUST BE GIVEN THE OPTION TO SELECT DEDUCTIBLE PERCENTAGES THAT ARE HIGHER THAN THE MINIMUM REQUIRED PERCENTAGE FOR A DEDUCTIBLE BASED ON A PERCENTAGE OF THE VALUE OF THE PROPERTY THAT APPLIES TO WINDSTORM LOSSES RESULTING FROM A HURRICANE; TO PROVIDE THAT THE PREMIUM RATES FOR SUCH A POLICY SHALL BE CORRESPONDINGLY REDUCED WHEN THE POLICYHOLDER SELECTS A HIGHER PERCENTAGE DEDUCTIBLE; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/26/07 at 10:43.

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2007/pdf/History/HB/HB1426.htm