SB 369
Modifies provisions relating to the valuation of insured property
Sponsor:
LR Number:
1723S.01I
Last Action:
2/23/2021 - Hearing Conducted S Insurance and Banking Committee
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2021

Current Bill Summary

SB 369 - Currently, if insured property is damaged by fire, insurers are prohibited from denying that the property was worth the amount the property was insured for at the time the policy was issued, and have the burden of proving any depreciation in value between the time the policy was issued and the time the loss occurred. This act removes the requirement that the damage have occurred by fire.

ERIC VANDER WEERD

Amendments

No Amendments Found.