Background: On December 17, 2021, the State Corporation Commission issued an order (INS-2021-00092) repealing Chapter 340 entitled “Rules Governing Standards for the Content of Fire Insurance or Fire Insurance in Combination with Other Coverages effective January 1, 2022; to adopt a new Chapter 341 entitled “Rules Governing Standards for the Content of Dwelling Property Insurance Policies”; and to adopt a new Chapter 342 entitled “Rules Governing Standards for the Content of Homeowners Insurance Policies.”

Action:  Insurers and rate service organizations are required to submit filings for compliance with these chapters no later than December 31, 2022.

The Bureau encourages insurers and rate service organizations file the forms necessary for compliance with Chapters 341 and 342 as soon as possible. The Bureau is unable to grant extensions to the compliance dates.

For more information, please review the Bulletin published by the State Corporation Commission Bureau of Insurance

Martin & Company can help your company stay in compliance, please contact us today.