Following last year's 5.8-magnitude earthquake centered in Louisa County, Virginia lawmakers have passed legislation that would require insurers to provide notice to homeowners lacking earthquake insurance.
House Bill 523, carried on behalf of Gov. Bob McDonnell by Del. Peter F. Farrell, R-Henrico, unanimously passed the House today. An identical measure has cleared the Senate.
The legislation would require insurance companies to notify homeowners who have not purchased earthquake coverage at time of each policy renewal.
At the end of January, 5,976 Virginia homeowners from nine localities had reported damage to the Federal Emergency Management Agency. Of those, only 344 -- less than 6 percent -- had either a homeowner's policy with an earthquake rider or a separate earthquake policy.
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