Missouri lawmakers have given final approval to legislation that supporters say is aimed at protecting commercial property.
A 2011 Missouri law bars residential contractors who fix roofs or complete other exterior repairs on homes from offering to pay insurance deductibles as an incentive to be hired. It also includes a provision stating property owners have five days to cancel a contract with a contractor.
This year’s legislation would expand the provisions to cover commercial property. SB 610 passed the House 134-2. Senators approved the measure 33-0 in February.
The legislation now goes to Gov. Jay Nixon.
Topics Legislation Commercial Lines Business Insurance Property Contractors Missouri
Was this article valuable?
Here are more articles you may enjoy.
Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati 
A Little Behind Schedule, But Execs Say Sypher Insurance is on Track for May Debut 
Florida Man Faked Brain Injury for Years in Attempt to Gain $6M in Insurance 
Public Adjuster Accused of Swiping $600,000 in Hurricane Ian Insurance Payments 
