H. B. 2023
(By Delegates Collins, Martin, Leach, Pettit and
[Introduced January 13, 1999; referred to the
Committee on Banking and Insurance then Finance.]
A BILL to amend and reenact section ten, article two, chapter
thirty-three of the code of West Virginia, one thousand nine
hundred thirty-one, as amended, relating to promulgating
rules requiring insurance companies to discount by ten
percent fire and other policies to homes with sprinkler
Be enacted by the Legislature of West Virginia:
That section ten, article two, chapter thirty-three of the
code of West Virginia, one thousand nine hundred thirty-one, as
amended, be amended and reenacted to read as follows:
ARTICLE 2. INSURANCE COMMISSIONER.
The commissioner is authorized to
promulgate and adopt such propose, subject to legislative approval, rules and regulations
relating to insurance as are necessary to discharge his or her
duties and exercise his or her powers and to effectuate the
provisions of this chapter and to protect and safeguard the
interests of policyholders and the public of this state:
Provided, That the insurance commissioner shall provide by rule
a ten percent premium discount for homes with sprinkler systems.
NOTE: The purpose of this bill is to provide a 10% discount
on insurance policies for homes with sprinkler systems.
Strike-throughs indicate language that would be stricken
from the present law, and underscoring indicates new language
that would be added.