Bill > HB5462

This bill clarifies the limits on how much can be recovered from mine subsidence insurance, which is coverage for damage caused by the ground sinking due to underground mining. Specifically, it states that any money a policyholder receives for a covered loss must first go towards property damage. If another source, like a different insurance policy, pays for some or all of the damage, the mine subsidence fund will only pay up to its statutory reinsurance limit for the remaining uncovered portion of the loss. The bill also sets a minimum deductible of $250 and a maximum of $500 for mine subsidence insurance, and limits the total insured value reinsured by the board to $200,000, ensuring that the mine subsidence reinsurance amount never exceeds the fire insurance coverage on the structure.

Budget and Finance, Business and Industry

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=5462&year=2026&sessiontype=RS&btype=bill