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2005 SESSION

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SB 1328 Fire insurance policies; limitation for mold coverage.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Homeowners insurance policies; fungi coverage. Authorizes insurers issuing policies on owner-occupied dwellings to limit coverage for loss caused by or consisting of the presence of fungi to not less than $10,000 for fungi remediation. This limit does not apply to fungi resulting from covered fire or lightning losses. The limited fungi coverage only applies to fungi resulting from a cause of loss not otherwise covered by the policy. Insurers are required to notify insureds of the option to purchase, for an additional premium, higher limits for fungi remediation coverage. The measure applies to policies issued or renewed on or after October 1, 2005.


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