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HB 1060, 61st Regular Session
Relating to enabling companies offering and selling policies of insurance on property within this State to secure reinsurance under the Federal Reinsurance Program as created by the Federal Urban Property Protection and Reinsurance Act of 1968 by declaring that any riot or other civil commotion resulting in damage to or destruction of property constitutes a public calamity and that it is in the interest of the general welfare of the people of this State that owners of property within the State be able to secure adequate insurance coverage against losses occasioned by such public calamities; providing for the annual certification to the State Treasurer by the State Board of Insurance of the amount required to be held as a contingent liability reserve fund, etc.

Author: William T. "Bill" Swanson

Subjects:
Insurance--Property & Casualty

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