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 Missouri Contractors
Was this article valuable?
Here are more articles you may enjoy.
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
A 10-Year Wait for Autonomous Vehicles to Impact Insurers, Says Fitch 
