SB 253
Board of Risk and Insurance Management rule relating to mine subsidence insurance
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
Senate Bill 253 authorizes the Board of Risk and Insurance Management to create and enforce rules regarding mine subsidence insurance in West Virginia. This rule-making process is intended to address concerns raised by the Legislative Rule-Making Review Committee. The existing rule, 115 CSR 01, has been modified and re-filed to comply with these requirements. This legislation focuses on establishing a framework for managing and regulating mine subsidence insurance policies.
Key provisions
- Authorizes the Board of Risk and Insurance Management to promulgate a legislative rule.
- The rule addresses mine subsidence insurance.
- The rule was modified to meet the Legislative Rule-Making Review Committee’s objections.
- The rule is referenced as 115 CSR 01.
Who is affected
- Insurance companies
- Businesses operating in areas with mine subsidence
- The Board of Risk and Insurance Management
- West Virginia residents and businesses
Notable changes
- The bill focuses on the rule-making authority of the Board of Risk and Insurance Management.
- It specifically addresses mine subsidence insurance, a specialized type of insurance.
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yours