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Introduced Version Senate Bill 30 History

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Senate Bill No. 30

(By Senator Minard)


[Introduced February 9, 2005; referred to the Committee

on Banking and Insurance.]


A BILL to amend and reenact §33-17-9 of the Code of West Virginia, 1931, as amended, relating to insurance generally; and total or partial fire loss.

Be it enacted by the Legislature of West Virginia:
That §33-17-9 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:
§33-17-9. Total or partial fire loss.
All insurers issuing policies providing fire insurance on real property situate in West Virginia, shall be liable, in case of total loss by fire or otherwise, as stated in the policy, for the whole amount of insurance stated in the policy, upon such real property: Provided, That the insured rebuild the damaged real property within a period of one year from the date of the loss; and in case of partial loss by fire or otherwise, as aforesaid, of the real property insured, the liability shall be for the total amount of such partial loss, not to exceed the whole amount of insurance upon such real property as stated in the policy. This section shall not apply where such insurance has been procured from two or more insurers covering the same interest in such real property.

NOTE: The purpose of this bill is to eliminate incentives for policyholders to destroy their own property for insurance claims and reduce insurance fraud by requiring claimants to rebuild damaged property within one year from the date of the insured loss.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.

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