Homeowner's Insurance Bill Killed in House Local Government Committee
On January 16th, I blogged on House Bill 1057 which would have required the Insurance Commissioner to adopt the following rules relating to homeowner’s insurance: (1) the criteria and requirements for estimates of replacement value of insured property; and (2) educational requirements for insurance producers related to homeowner’s insurance – including estimating replacement values. The bill would also have required homeowner’s insurance policies to include “. . . coverage for additional living expenses. This coverage must be available for a period of twenty-four months. . .”
While at the time I didn't give HB 1057 much of a shot at making it through the legisaltive process - stranger things have happened. However, the House Committee on Local Government heard the bill and voted to "postpone indefinitely." In legislative speak, that means the bill is dead for the session.