Senate Bill 2014

(As Passed the Senate)

AN ACT TO REQUIRE INSURERS WHO ISSUE POLICIES OF FIRE INSURANCE WHICH EXCLUDE COVERAGE FOR FLOOD DAMAGE TO PROVIDE WRITTEN NOTICE REGARDING FLOOD EXCLUSION; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Any insurer that issues or delivers in this state a new or renewal contract or policy of fire insurance, or a new or renewal contract or policy of fire insurance in combination with other insurance coverages, which policy or contract excludes coverage for damage due to flood, surface water, waves, tidal water, or any other overflow of a body of water, shall provide written notice that: (a) explicitly states that flood coverage is excluded; (b) states that information regarding flood insurance is available from the insurer, insurance agent or the National Flood Insurance Program; and (c) advises the policyholder that contents coverage may be available with the flood policy for an additional premium. The Commissioner of Insurance shall prescribe by regulation a standard form and the language for the written notice required in this section.

SECTION 2. This act shall take effect and be in force from and after September 1, 2006, and shall apply to contracts or policies issued or renewed on and after that date.