DIGEST OF INTRODUCED BILL
Notice of insurance after fire or explosion. Requires certain insurers to: (1) notify enforcement authorities in a municipality concerning the existence of coverage for a building or structure that is located in the municipality and damaged by fire or explosion (currently, the law applies to certain cities); and (2) provide for a set aside of insurance proceeds payable with regard to the building or structure. Revises current provision to specify the process for notices. Repeals a definition rendered unnecessary by the act.