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Bill > SB326
AL SB326
AL SB326Sinkhole loss insurance coverage, homeowners insurance policies, require to cover catastrophic ground cover collapse and optional coverage for sinkhole damage.
summary
Introduced
04/16/2024
04/16/2024
In Committee
04/16/2024
04/16/2024
Crossed Over
Passed
Dead
05/09/2024
05/09/2024
Introduced Session
Regular Session 2024
Bill Summary
Sinkhole loss insurance coverage, homeowners insurance policies, require to cover catastrophic ground cover collapse and optional coverage for sinkhole damage.
AI Summary
This bill requires homeowners insurance policies in Alabama to provide coverage for catastrophic ground cover collapse and offers optional coverage for sinkhole damage. It defines key terms like "catastrophic ground cover collapse" and "sinkhole loss," and outlines the process for insurers to investigate and verify sinkhole claims, including the involvement of professional engineers and geologists. The bill also addresses requirements for policy disclosures, claims handling, repair procedures, and record-keeping related to sinkhole losses. The provisions in this bill will become effective on October 1, 2024.
Committee Categories
Agriculture and Natural Resources
Sponsors (1)
Last Action
Senate Agriculture, Conservation, and Forestry (Senate) Hearing (14:30:00 4/17/2024 room 316) (on 04/17/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://alison.legislature.state.al.us/bill-search |
| BillText | https://www.legislature.state.al.us/pdf/SearchableInstruments/2024RS/SB326-int.pdf |
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