House Bill No. [insert bill number] amends R.S. 22:1483.2 to clarify the requirements for insurers offering fortified roof endorsements in homeowners' insurance policies. The bill mandates that any authorized insurer or producer 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 covered by the policy necessitates roof replacement. The offer must be made when writing a new homeowners' policy on a nonfortified home and upon the first renewal of an existing homeowners' policy.

Additionally, the bill specifies 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 the structure's ineligibility. It also states that insurers cannot refuse to comply with the endorsement-offer requirement based on the age of the roof, although they may consider the roof's age and condition when determining the premium for the endorsement. The bill aims to ensure that homeowners have access to necessary upgrades while providing protections for both insurers and insured parties.

Statutes affected:
HB759 Original: