(a) The Insurance Commissioner may establish a coastal market assistance program to assist homeowners to obtain homeowners insurance for their residential dwellings located in proximity to the coastal area of the state. Such program may consist of a network of participating insurers and insurance producers that act on a voluntary basis and operate under the auspices of the commissioner to provide such assistance to homeowners. The commissioner may require any insurer that declines to issue or renew a homeowners insurance policy to provide notice, in writing, to the affected applicant or insured of the existence of such program.
(b) The commissioner may adopt regulations, in accordance with chapter 54, to implement the provisions of this section.
(P.A. 07-77, S. 3.)
History: P.A. 07-77 effective May 30, 2007.
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