HSB 33

The bill requires that the notification prohibiting a contractor’s rebate of a deductible be included in any written contract, repair estimate, or work order, and be signed by the named insured. A copy of such notification must be sent to the named insured’s insurer prior to the payment of any proceeds under the applicable insurance policy. _____ residential contractor under a property and casualty insurance policy that covers residential real estate. The assignment must also include an itemized description of the work to be performed, and of the cost of the materials, labor, and fees for the goods or services to be provided. A copy of the assignment must be provided to the insurer within five business days after execution. The assignment cannot prevent the insurer from communicating with the named insured or mortgagee listed on the declarations page of the policy that is the subject of the assignment. The named insured can cancel the assignment for any reason within five business days from the date of execution of the assignment. Within 10 business days of the date of the written cancellation, the residential contractor must return to the named insured, the owner, or the possessor of the residential real estate, any payments or deposits that have been made by such person. A residential contractor who violates a provision of the bill is subject to penalties and remedies pursuant to Code chapter 103A.16.