How would a phased in plan affect the notice requirements of Section 38-75-755 and Bulletin 2007-16?
A. Section 38-75-755 “requires insurers to provide notice of available premium discounts for residential and commercial property insurance coverage.” The law applies to policies issued or renewed with an effective date after December 31, 2007. The Notice Requirements must be made specifying the availability, with proper mention to the discounts/credits under development. Q. With respect to the building code or construction technique requirements enumerated in Section 3. of the Proposed Rule, it appears that it is the Department’s intent to only allow discounts or credits or other rating considerations beneficial to the policyholder for meeting certain building construction criteria, as opposed to allowing surcharges or debits for construction standards that do not meet minimum requirements. However, it is unclear what is intended by subsection C. of Section 3. We request that the Department provide further clarification on subsection C. A. The intent of the statute is to promote mitiga
