Bill Text: VA HB523 | 2012 | Regular Session | Prefiled

Virginia House Bill 523 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Fire insurance policy; notice regarding earthquake exclusion.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2012-03-13 - Governor: Acts of Assembly Chapter text (CHAP0235) [HB523 Detail]

Download: Virginia-2012-HB523-Prefiled.html

12101844D
HOUSE BILL NO. 523 Offered January 11, 2012 Prefiled January 10, 2012 A BILL to amend the Code of Virginia by adding in Chapter 21 of Title 38.2 a section numbered 38.2-2129, relating to insurance policies; notices; earthquake exclusion. ---------- Patron-- Farrell ---------- Referred to Committee on Commerce and Labor ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Chapter 21 of Title 38.2 a section numbered 38.2-2129 as follows:

§38.2-2129. Notice regarding earthquake exclusion.

Any insurer that issues or delivers in the Commonwealth a new or renewal contract or policy of fire insurance, or a new or renewal contract or policy of fire insurance in combination with other insurance coverages, which policy or contract excludes coverage for damage due to earthquake shall provide written notice that (i) explicitly states that earthquake coverage is excluded and (ii) states that information regarding earthquake insurance is available from the insurer or the insurance agent and that such coverage may be available for an additional premium.