H. B. 4670
(By Mr. Speaker, Mr. Kiss, Delegate Thompson)
[Introduced February 27, 1998; referred to the
Committee on Banking and Insurance.]
A BILL to amend article four, chapter thirty-three of the code
of West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
twenty-one, relating to insurance; requiring certain
insurers to offer discounts on fire and homeowners policies
based on volunteer fire department fees paid by the insured;
and providing for the amount of same.
Be it enacted by the Legislature of West Virginia:
That article four, chapter thirty-three of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
be amended by adding thereto a new section, designated section
twenty-one, to read as follows:
ARTICLE 4. GENERAL PROVISIONS.
§33-4-21. Discount on certain premiums for payment of volunteer
fire department fees.
Notwithstanding any provision of this code or any policy,
plan or contract of insurance to the contrary, on and after the
effective date of this section, any insurer subject to regulation
under this chapter that sells or offers to sell fire or
homeowners insurance shall offer discounts with respect to the
premiums payable for those policies in proportion to any fees
assessed by a West Virginia volunteer fire department and paid by
the insured: Provided, That the discount required by this
section may not exceed ten percent of the annual premium for the
policy.
NOTE: The purpose of this section is to require insurers to
offer discounts on fire and homeowners policies based on
volunteer fire department fees paid by the insured. It would
limit the discount to no more than ten percent of the annual
premium for the policy.
This section is new; therefore, strike-throughs and
underscoring have been omitted.