PRINTER'S NO. 3788
No. 2715 Session of 1990
INTRODUCED BY RYBAK, ITKIN, DeWEESE, KUKOVICH, COHEN, HALUSKA,
F. TAYLOR, J. L. WRIGHT, NAHILL, CARN, BILLOW, CARLSON,
HECKLER, THOMAS, VROON, DeLUCA, E. Z. TAYLOR, JOHNSON,
JOSEPHS, LAUGHLIN, MORRIS, McHALE, KOSINSKI, RICHARDSON,
LINTON, JAMES AND PISTELLA, JUNE 20, 1990
REFERRED TO COMMITTEE ON INSURANCE, JUNE 20, 1990
AN ACT
1 Amending the act of July 31, 1968 (P.L.738, No.233), entitled
2 "An act relating to establishment of an Industry Placement
3 Facility to make available basic property insurance against
4 fire and other perils for residential and business properties
5 located in certain areas of the Commonwealth of Pennsylvania
6 through the cooperative efforts of the Commonwealth and the
7 private property insurance industry; providing for a sharing
8 by the Commonwealth of insured losses resulting from riots
9 and other civil disorders through the formation of the
10 Pennsylvania Civil Disorder Authority; levying an assessment
11 on all policies of basic property insurance written in the
12 Commonwealth; and conferring powers and imposing duties upon
13 the Insurance Commissioner and upon certain property
14 insurers," further defining "basic property insurance."
15 The General Assembly of the Commonwealth of Pennsylvania
16 hereby enacts as follows:
17 Section 1. Section 103(2) of the act of July 31, 1968
18 (P.L.738, No.233), known as The Pennsylvania Fair Plan Act, is
19 amended to read:
20 Section 103. Definitions.--As used in this act, unless the
21 context otherwise requires:
22 * * *
1 (2) "Basic property insurance" means insurance against
2 direct loss to real or tangible personal property at a fixed
3 location caused by perils defined and limited in the standard
4 fire policy prescribed in section 506 of the act of May 17, 1921
5 (P.L.682), known as "The Insurance Company Law of 1921," and in
6 the extended coverage endorsement approved by the commissioner
7 pursuant to section 354 of the act, and such vandalism,
8 malicious mischief, burglary, theft, or such other classes of
9 insurance as may be determined by the [Industry Placement
10 Facility with the approval of the] commissioner, but shall not
11 include insurance on motor vehicle, farm or such manufacturing
12 risks as may be excluded by the commissioner;
13 * * *
14 Section 2. Basic property insurance shall be continued 180
15 days after the death of the named insured of the policy or until
16 the sale of the property, whichever shall first occur, provided
17 that the premiums at the standard market rates for this coverage
18 are paid.
19 Section 3. This act shall take effect in 180 days.
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