Senate Bill 30 History
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:
ARTICLE 17. FIRE AND MARINE INSURANCE.
§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