Residential Property Insurance

What this bill does

Requires that certain rate filings with OIR from residential property insurers include rate transparency reports; provides for office to accept such reports or to request that insurer make modifications; requires insurers to provide such reports to consumers; requires that report indicate that it is preliminary & subject to modification by insurer at direction of office under specified circumstance; requires office to define terms used in such reports; requires office to establish & maintain comprehensive resource center on its website; prohibits insurer from including value of land when establishing homeowner's policy coverage amount or adjusting certain claims.