May 4, 2011
April 28, 2011(Key vote)
Title: Property and Casualty Insurance Amendments
Vote Smart's Synopsis:
Vote to pass a bill that repeals the requirement that private insurers offer sinkhole insurance coverage, effective July 1, 2011.
Repeals statutes requiring private insurance companies to provide comprehensive sinkhole insurance coverage (Sec. 16).
Requires the state-run Citizens Property Insurance Corporation to provide sinkhole insurance coverage (Sec. 18).
Prohibits the Office of Insurance Regulation from disapproving a rate change for sinkhole coverage, unless the insurer is charging a higher premium solely because of the applicant's or insured's race, religion, sex, national origin, or marital status (Sec. 16).
Requires insurance policyholders to enter into a contract for the performance of building stabilization or foundation repair within 90 days after an insurance company confirms coverage for a sinkhole loss or catastrophic ground cover collapse (Sec. 30).