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House Commerce panel lays over bill to create homeowners, commercial property insurance task force
Summary
The House Commerce Committee heard testimony supporting House File 2,228, a bill to create a statewide task force on homeowners and commercial property insurance. Committee members adopted two technical amendments and laid the bill over for possible inclusion in an omnibus package.
Representative Michael Elkins, author of House File 2,228, asked the House Commerce Committee to establish a state task force to study homeowners and commercial property insurance trends and recommend solutions.
The bill would create an interim task force to examine rising premiums, market exits, and coverage availability for homeowners associations, nonprofit housing providers and individual homeowners. “These 400% price increases on property and casualty insurance are becoming typical,” Representative Michael Elkins said, describing constituent contacts from condominium associations and nonprofit housing providers.
Supporters told the committee the problem is acute and growing. Mary Novak, executive…
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