Mississippi Administrative Code › Title 19 - Department of Insurance › Part 1 - General › Chapter 34 - (2007-1) Mississippi Homeowner Insurance Policyholder Bill of Rights › Rule 19-1-34.04 - Policyholder Bill of Rights

Current through June 25, 2024
The rights set forth below shall serve as standards to be
				  followed by the Mississippi Department of Insurance in exercising the
				  Department's powers and duties, in exercising administrative discretion, in
				  dispensing administrative interpretations of the law, and in regulating
				  insurance companies pursuant to the Unfair and Deceptive Trade Practices Act,
Miss. Code Ann.
$$83-5-29 through 83-5-51. These
				  rights include, but are not limited to, the following:
A. Policyholders shall have the right to
				competitive pricing practices and marketing methods that enable them to
				determine the best value among comparable coverage.
B. Policyholders shall have the right to
				insurance advertising and other selling approaches that provide accurate and
				balanced information on the benefits and limitations of a policy.
C. Policyholders shall have the right to
				assurance that the insurance market in general and their insurance company in
				particular is financially stable.
D. Policyholders shall have the right to
				receive good service from competent, honest individuals and producers, and to
				have their questions addressed promptly.
E. Policyholders shall have the right to a
				policy in an easily readable format, to receive a complete policy, and to
				request a duplicate or replacement policy as needed.
F. Policyholders shall have the right to
				assurance that their insurance company is regulated to comply with Mississippi
				laws requiring economic delivery of coverage and loss prevention measures.
G. Policyholders shall have the
				right to balanced and positive regulation by the Mississippi Department of
				Insurance.
H. Policyholders shall
				have the right to request the license status of an insurance company or
				producer.
I. Policyholders shall
				have the right to receive in writing from their insurance company the reason
				for any cancellation or nonrenewal of coverage. The written statement from the
				insurance company must provide an adequate explanation for the cancellation or
				nonrenewal of coverage.
J.
				Policyholders shall have the right to cancel their policy and receive a refund
				of any unearned premium. If a policy was funded by a premium finance company,
				the unearned premium will be returned to the premium finance company to pay
				toward the policyholder's financing loan.
K. Policyholders shall have the right to a
				written notification detailing any change in policy provisions relating to
				their coverage at renewal.
L.
				Policyholders shall have the right to receive a written explanation of why a
				claim is denied, in whole or in part.
M. Policyholders shall have the right to
				request and receive from the insurance company any adjuster reports, engineer
				reports, contractor reports, statements or documents which are not legally
				privileged documents that the insurance company prepared, had prepared, or used
				during its adjustment of the policyholder's claim. A company may keep
				confidential any documents they prepare in conjunction with a fraud
				investigation.
N. Policyholders
				shall have the right to have any decision regarding the denial or nonrenewal of
				their policy, or the adjustment of their rates not be based solely on the basis
				of their credit history without consideration of other factors. If an insurance
				company uses credit history, it must comply with the provisions set forth in 19
				Miss. Admin. Code, Part 1, Chapter 31, "Use of Credit History and Insurance
				Scores for Determining Rates and Eligibility for Personal Insurance", and the
				Federal Fair Credit Reporting Act.
O. Policyholders shall have the right to
				prevent an insurance company, agent, adjuster or financial institution from
				disclosing their personal financial information to companies or entities that
				are not affiliated with the insurance company or financial institution, subject
				to the provisions set out in 19 Miss. Admin. Code, Part 1, Chapter 28, "Privacy
				of Consumer Financial and Health Information Regulation".
P. Policyholders shall have the right to
				receive at least thirty (30) days' notice of the nonrenewal of their policy
				pursuant to the provisions of
Miss. Code Ann.
§
									83-5-28.
Q. Policyholders shall have the right to be
				treated fairly and honestly when making a claim.
R. Policyholders shall have the right to
				reject any settlement amount offered by the insurance company.
S. Policyholders shall have the right to file
				a written complaint against any insurance company or insurance producer with
				the Mississippi Department of Insurance, and to have that complaint
				investigated by the Mississippi Department of Insurance.
On or after September 1, 2009, no homeowners' personal lines
				  residential property coverage insurance policy shall be delivered or issued for
				  delivery in this state, or at renewal, unless a copy of the Policyholder Bill
				  of Rights is included with the policy.
Miss. Code Ann. §
										83-5-29
				  (Rev. 2011)