PRINTER'S NO. 703
No. 663 Session of 2001
INTRODUCED BY KUKOVICH, COSTA, KASUNIC, MUSTO, WAGNER, STOUT,
BODACK, KITCHEN, MELLOW, SCHWARTZ, WILLIAMS AND LOGAN,
MARCH 19, 2001
REFERRED TO BANKING AND INSURANCE, MARCH 19, 2001
AN ACT
1 Amending the act of May 17, 1921 (P.L.682, No.284), entitled "An
2 act relating to insurance; amending, revising, and
3 consolidating the law providing for the incorporation of
4 insurance companies, and the regulation, supervision, and
5 protection of home and foreign insurance companies, Lloyds
6 associations, reciprocal and inter-insurance exchanges, and
7 fire insurance rating bureaus, and the regulation and
8 supervision of insurance carried by such companies,
9 associations, and exchanges, including insurance carried by
10 the State Workmen's Insurance Fund; providing penalties; and
11 repealing existing laws," providing for notice of
12 availability of insurance against damage resulting from mine
13 subsidence.
14 The General Assembly of the Commonwealth of Pennsylvania
15 hereby enacts as follows:
16 Section 1. The act of May 17, 1921 (P.L.682, No.284), known
17 as The Insurance Company Law of 1921, is amended by adding a
18 section to read:
19 Section 506.2. Notice of Availability of Mine Subsidence
20 Insurance.--(a) Upon purchase of a policy affording fire
21 insurance as defined in section 506 of this act, or at least
22 thirty (30) days prior to the renewal date of a policy affording
23 fire insurance, written notice shall be given to the insured of
1 the availability of insurance against damage resulting from mine
2 subsidence. The notice shall contain the telephone number and
3 address of the district mining office of the Department of
4 Environmental Protection having jurisdiction in the district
5 where the insured resides.
6 (b) The notice required by subsection (a) shall be given to
7 all insureds who reside in areas of this Commonwealth where mine
8 subsidence occurs or has occurred, as determined by regulations
9 promulgated by the Insurance Commissioner after consultation
10 with the Department of Environmental Protection. The Insurance
11 Commissioner after consultation with the Department of
12 Environmental Protection shall, by regulation, classify areas of
13 this Commonwealth on the basis of frequency of mine subsidence
14 events as being excessive risk areas, moderate risk areas or
15 infrequent risk areas. The appropriate classification shall be
16 made known to the insured as part of the notice required by
17 subsection (a).
18 Section 2. This act shall apply to fire insurance policies
19 issued or renewed on or after the effective date of this act.
20 Section 3. This act shall take effect in 60 days.
A17L40DMS/20010S0663B0703 - 2 -