An Act Concerning Hurricane Deductibles

Sec. 1. 24-A MRSA §3061  is enacted to read:

§ 3061.  Uniform policy language concerning hurricane deductible programs

The superintendent shall adopt rules establishing procedures and standards for an insurer that uses a hurricane deductible program or programs regarding the applicability of hurricane deductibles. Procedures and standards must include without limitation uniform policy language and the form of notice that the insurer must provide to the named insured under a policy subject to this subchapter issued by the insurer. Rules adopted pursuant to this section are routine technical rules as defined by Title 5, chapter 375, subchapter 2-A.

summary

This bill requires the Superintendent of Insurance to adopt routine technical rules concerning the use of hurricane deductibles used in policies subject to the property insurance cancellation control laws.