S.22.2-52: Insurance Assurance Act (PASSED)
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  S.22.2-52: Insurance Assurance Act (PASSED)
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Author Topic: S.22.2-52: Insurance Assurance Act (PASSED)  (Read 121 times)
fhtagn
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« on: June 13, 2022, 10:12:20 PM »
« edited: June 28, 2022, 08:30:53 PM by fhtagn »

Quote
INSURANCE ASSURANCE ACT

Quote
1. No insurer in the Southern Region who insures property nor any insurer who insures property in the Southern Region shall automatically deny insurance coverage to a property because of a roof’s age if the roof is less than twenty (20) years old.

2. Homeowners with roofs twenty (20) years or older shall be permitted to get a roof inspection by a qualified inspector before any such insurers may deny them coverage. If an inspection shows that a roof has at least five (5) years of life remaining, insurers shall not refuse to issue a policy only based on the roof’s age. If a roof is more than 25% damaged but is less than twenty (20) years old or already complies with the  the rules for new roof construction in the Uniform Building Code, no insurer shall require replacement rather than repair as a condition of issuing a policy.  

3. The Uniform Building Code is hereby amended to require any condominiums higher than three (3) stories and more than ten (10) years old to be inspected for structural integrity every five (5) years. The results of such inspection shall be maintained by the Condominium Owner's Association (COA) for twenty (20) years and each member of the COA shall be given a copy.

4. If attorney's fees are awarded as part of a civil judgment in a case in which an insurer is a party, no such fees may be compensated at a rate higher than $75 an hour.

5. This act shall take effect January 1, 2023.

Sponsor: fhtagn
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Mr. Reactionary
blackraisin
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« Reply #1 on: June 14, 2022, 07:05:54 AM »

This is based on a Florida law and makes it easier to get homeowners insurance and also requires high rise condo inspections due to the recent collapse of one in Florida.




*The text of this bill does NOT violate the TOS of this website*
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fhtagn
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« Reply #2 on: June 24, 2022, 11:07:02 PM »

If there are no more comments, I move we proceed to a vote. 24 hours for objections.
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President Punxsutawney Phil
TimTurner
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« Reply #3 on: June 24, 2022, 11:16:51 PM »

No objection.
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fhtagn
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« Reply #4 on: June 26, 2022, 09:48:35 PM »

A final vote on this bill is now open for 72 hours, or until 24 hours after this has enough votes to pass or fail, or until everybody votes, whichever occurs soonest.
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reagente
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« Reply #5 on: June 26, 2022, 10:05:39 PM »

present
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UlmerFudd
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« Reply #6 on: June 26, 2022, 10:07:07 PM »

Aye
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fhtagn
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« Reply #7 on: June 26, 2022, 10:26:30 PM »

Aye
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RFayette
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« Reply #8 on: June 26, 2022, 10:48:19 PM »

Aye
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fhtagn
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« Reply #9 on: June 26, 2022, 10:55:38 PM »

This has enough votes to pass. 24 hours to vote/change your vote, or until everyone has voted, whichever happens soonest

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President Punxsutawney Phil
TimTurner
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« Reply #10 on: June 28, 2022, 12:08:32 AM »

Aye
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fhtagn
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« Reply #11 on: June 28, 2022, 08:30:42 PM »

The bill now passes and awaits gubernatorial action.

Aye: 4
Nay:0
Present: 1
Not voting: 0


Quote
INSURANCE ASSURANCE ACT

Quote
1. No insurer in the Southern Region who insures property nor any insurer who insures property in the Southern Region shall automatically deny insurance coverage to a property because of a roof’s age if the roof is less than twenty (20) years old.

2. Homeowners with roofs twenty (20) years or older shall be permitted to get a roof inspection by a qualified inspector before any such insurers may deny them coverage. If an inspection shows that a roof has at least five (5) years of life remaining, insurers shall not refuse to issue a policy only based on the roof’s age. If a roof is more than 25% damaged but is less than twenty (20) years old or already complies with the  the rules for new roof construction in the Uniform Building Code, no insurer shall require replacement rather than repair as a condition of issuing a policy.  

3. The Uniform Building Code is hereby amended to require any condominiums higher than three (3) stories and more than ten (10) years old to be inspected for structural integrity every five (5) years. The results of such inspection shall be maintained by the Condominium Owner's Association (COA) for twenty (20) years and each member of the COA shall be given a copy.

4. If attorney's fees are awarded as part of a civil judgment in a case in which an insurer is a party, no such fees may be compensated at a rate higher than $75 an hour.

5. This act shall take effect January 1, 2023.
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