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Senate committee advances 'Strengthen Mississippi Homes' mitigation program funded by insurer fee increase
Summary
The Senate Insurance Committee advanced Senate Bill 2413, renaming and revising the hurricane‑mitigation program to fund home and commercial property wind‑strengthening using an increased insurer‑paid agent fee; debate centered on eligibility, building codes and contractor certification.
The Senate Insurance Committee on May 20 advanced Senate Bill 2413, a multi‑part mitigation measure that would expand and rename the state’s hurricane‑mitigation effort to "Strengthen Mississippi Homes" and fund it by raising a per‑agent insurer fee.
Under the committee substitute described by sponsors, the bill removes earlier proposed diversions from the state wind‑pool and focuses on grants and retrofits aimed at reducing wind damage to homes and eligible commercial property. Committee discussion said the state wind‑pool holds roughly $440 million in assets and that last year the Legislature appropriated $5 million into the mitigation fund.
The bill would increase a company‑paid per‑agent fee from $25 to $50; the sponsor said the additional $25 per…
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