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House Insurance Committee Property and Casualty Subcommittee Chairman Steve Tarvin (R-Chickamauga) and members of the Property and Casualty Subcommittee took action on some legislation this morning: HB 241, authored by Representative Matthew Gambill (R-Cartersville), seeks to amend O.C.G.A. 33-7-6, relating to property insurance, contract requirements, rules and regulations, and exemptions, so as to revise the meaning of property insurance and also to change the parameters under which certain contracts, agreements, or instruments may be canceled. The legislation attempts to streamline service contracts like statutes are done in 49 other states and the District of Columbia and provide for the opportunity for cancellation of those contract with a refund permitted to unused premiums. The legislation received a DO PASS recommendation, moving the bill to the House Rules Committee.

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