House Bill No. 1197, introduced by Representative Firmant, amends R.S. 22:1483.2 to clarify the requirements for fortified roof endorsements in homeowners' insurance policies. The bill mandates that authorized insurers must offer an endorsement to upgrade a nonfortified residential structure to meet the fortified roof standards of the Insurance Institute for Business and Home Safety when damage necessitates roof replacement. The offer must be made when writing a new homeowners' policy or upon the first renewal of an existing policy, specifically for residential structures with roofs installed within the last ten years that are eligible for retrofitting.

Additionally, the bill stipulates that if an insurer sells the endorsement and later finds that the structure is not eligible for retrofitting, they must refund any premiums collected under the endorsement, minus the costs incurred in determining ineligibility. The legislation also allows insurers to voluntarily offer the endorsement for homes with roofs older than ten years and clarifies that insurers can use the age and condition of the roof as factors in determining the premium for the endorsement. Overall, the bill aims to enhance the clarity and applicability of fortified roof endorsements while ensuring consumer protection through premium refunds in cases of ineligibility.

Statutes affected:
HB759 Original:
HB759 Engrossed: