Insurance
SB 1672 – relating to Property Insurance
On Thursday, May 1st, SB 1672, relating to Property Insurance, by the Senate Committee on Banking and Insurance passed the House chamber by a 25-8 vote. The bill now heads to the Governor for consideration.
The bill addresses several aspects of Citizens eligibility for commercial residential multi-peril policies and includes several fraud protections including prohibiting contractors from waiving deductibles to induce policyholders to file claims.
AIF also supports reducing fraud in the property insurance marketplace, which helps control insurance costs for businesses and homeowners alike.
