Missouri SB1543 modifies homeowner's insurance provisions, including mediation for disputed claims and premium discounts for retrofitting properties.
Missouri SB1543 establishes a mediation program for disputed residential property insurance claims involving $1,500 or more. It mandates insurers to notify policyholders of their right to mediation and requires insurers to pay for mediation costs. The bill also requires insurers to offer premium discounts for policyholders who retrofit their homes to resist wind and hail damage. Retrofit projects must meet standards set by the Insurance Institute for Business and Home Safety (IBHS).
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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