SENATE CONCURRENT RESOLUTION NO. 93
(By Senators Minard, Fanning, Foster, Helmick, Jenkins, Prezioso,
Sharpe, Deem, Facemyer, Guills, Lanham and Minear)
[Originating in the Committee on Banking and Insurance]
Requesting the Joint Committee on Government and Finance study the
availability and affordability of homeowners' insurance and
commercial property and casualty insurance.
Whereas, The state's citizens need available and affordable
homeowners' insurance; and
Whereas, In this state and across the nation, property and
casualty insurance has become increasingly more expensive and
difficult to obtain; and
Whereas, Insurers are increasing premiums, declining to write
new policies and declining to renew existing policies; and
Whereas, The availability and affordability of homeowners'
insurance are essential to the functioning of a healthy real estate
market and the ability of the state's citizens to purchase and
protect their homes and possessions; and
Whereas, The affordability and availability of commercial
property and casualty insurance are a concern for businesses and
citizens in West Virginia; and
Whereas, Access to affordable insurance is crucial to the
economic viability of West Virginia's economy; and
Whereas, Businesses in this state have been experiencing
difficulty in obtaining and maintaining insurance coverage; and
Whereas, If present trends continue in West Virginia, there
may be a commercial property and casualty insurance crisis; and
Whereas, A study of the impact of economic forces and
regulation upon these lines of insurance is important to maintain
a stable insurance market in West Virginia and ensure the continued
availability of these lines of coverage; and
Whereas, Following the conclusion of the 2004 regular session
of the seventy-sixth Legislature, a Committee on Insurance
Availability and Affordability was appointed; and
Whereas, The Committee on Insurance Availability and
Affordability was assigned to study the topics of availability of
homeowners' insurance, the use of credit scoring as a means of
setting insurance rates and the affordability and availability of
commercial property and casualty insurance; and
Whereas, The Committee reported to the Joint Committee on
Government and Finance with draft legislation for the 2005 regular
session of the seventy-seventh Legislature and such draft
legislation was introduced and acted upon by the Legislature; and
Whereas, Issues relating to the availability and affordability
of homeowners' insurance and commercial property and casualty insurance remain; therefore, be it
Resolved by the Legislature of West Virginia:
That the Joint Committee on Government and Finance is hereby
requested to study the availability and affordability of
homeowners' insurance and commercial property and casualty
insurance; and, be it
Further Resolved, That the Joint Committee on Government and
Finance report to the regular session of the Legislature, 2006, on
its findings, conclusions and recommendations, together with drafts
of any legislation necessary to effectuate its recommendations;
and, be it
Further Resolved, That the expenses necessary to conduct this
study, to prepare a report and to draft necessary legislation be
paid from legislative appropriations to the Joint Committee on
Government and Finance.
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