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

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

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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-Enrolled.html

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VIRGINIA ACTS OF ASSEMBLY -- CHAPTER An Act 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. [H 523] Approved

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 unless purchased by endorsement" and (ii) if such coverage is otherwise available from the insurer, states that information regarding earthquake insurance is available from the insurer or the insurance agent.

2.  That the provisions of this act shall apply to policies issued or renewed on or after January 1, 2013.