HB 323 will add an extra bonus to homeowners who build new homes within the state that are made to better resist tornado like winds. The bill was authored by Rep. Chism and it made it through the House deadline day, and transmitted to the Senate.

House Bill 323

  1. Section 83-75-1, Mississippi Code of 1972, is amended as follows: Not later than July 1, 2013, insurancecompanies shall provide a premium discount or insurance rate reduction in an amount and manner as established in subsection of this section and according to Section 83-75-5. In addition, insurance companies may also offer additional adjustments in deductible, other credit rate differentials, or a combination thereof, collectively referred to as adjustments.  These adjustments shall be available under the terms specified in this section to any owner who builds or locates a new insurable  property in Harrison, Hancock, Jackson, Stone and Pearl River Counties, to resist loss due to hurricane or other catastrophic windstorm events. Not later than January 1, 2019, insurance companies  shall provide a premium discount or insurance rate reduction in an amount and manner as established in subsection (5) of this section and according to Section 83-75-5. In addition, insurance companies may also offer additional adjustments in deductible, other credit rate differentials, or a combination thereof, collectively referred to as adjustments. These adjustments shall be available under the terms specified in this section to any owner who builds or locates a new insurable property to resist loss due to tornado or other catastrophic windstorm events in any county located in the State of Mississippi.