H1149: Policy Cancellations and Nonrenewals by Property Insurers

Legislative Summary

Prohibits authorized insurers & eligible surplus lines insurers from canceling & nonrenewing policies covering dwellings & residential properties damaged by covered perils within certain timeframes; provides exceptions to prohibitions against insurers' policy cancellations & nonrenewals within certain timeframes; authorizes FSC to adopt rules & Commissioner of Insurance Regulation to issue orders; provides conditions under which structure is deemed to be repaired.