Welcome to GulfCoastNews.com

Dale Announces Public Hearing for MID Homeowner Insurance Policyholder Bill of Rights Regulation
From: Mississippi Insurance Department      Filed 1/22/07 GCN

Commissioner of Insurance George Dale today announced that a public hearing for the Mississippi Insurance Department (MID)'s new proposed regulation regarding a homeowner insurance policyholder bill of rights will be held at 9 a.m. on Friday, January 26, 2007, in the Public Service Commission's Hearing Room on the first floor of the Woolfolk State Office Building in Jackson. The public is invited to attend and can also submit written comments on the proposed regulation.

The proposed regulation can be found on the Mississippi Insurance Department website at www.doi.state.ms.us. The regulation is based in part on comments from citizens and similar legislation from the states of Maryland and Florida.

Two major components of the proposed regulation are: (1) the bill of rights and (2) the requirement that all property and casualty insurers writing homeowners personal lines residential insurance property coverage provide an outline of coverage for homeowners insurance policies, including renters/tenants insurance and mobile home/manufactured housing property coverage. Insurance companies will also be required to provide a policyholder checklist that will help policyholders better understand the principal benefits and coverage provided in their policy.

The regulation shall apply to all insurance companies, including surplus lines companies, the Mississippi Windstorm Underwriting Association, and the Mississippi Residential Property Insurance Underwriting Association, writing homeowners personal lines residential property coverage insurance policies in the State of Mississippi.

 

Welcome to GulfCoastNews.com