A bill prohibiting insurers from dropping or failing to renew a policy involving a home containing Chinese drywall is making its way to the Louisiana Senate.
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Julie Quinn
The bill (SB 595), proposed by Sen. Julie Quinn (R-6th District), was approved today (April 22) by the Louisiana Senate Insurance Committee and now moves to the full Senate for consideration. The proposed legislation would prohibit a homeowner, or property-casualty or liability insurer from increasing premiums or ending a policy because the dwelling contains Chinese drywall, the controversial building element under fire in several states.
Several states, including Florida and Virginia, also have addressed the drywall issue, which has been shown to cause medical issues in dwelling residents and damage to wiring and pipes in homes.
In Virginia, the state’s secretary of commerce and trade, Jim Cheng, recently convened a taskforce to address the issue, after legislation stalled. Several bills were proposed in the most recent Virginia General Assembly session, including one similar to Quinn’s bill that prohibited cancellations or refusals to renew policies.
That bill, offered by Virginia Del. Glenn Oder (R-94th District), was tabled by legislators in deference to Cheng’s task force.
Recently, Sens. Bill Nelson (D) and George LeMieux (R) of Florida and Louisiana’s Mary Landrieu (D) urged mortgage lender Fannie Mae to help residents of homes built with Chinese drywall and having difficulty balancing mortgage and rent payments with the cost to repair their dwellings.
Louisiana weighs bill banning Chinese drywall insurance cancellations via IFAwebnews.com .
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