West Virginia has enacted House Bill 5462 to amend and reenact §33-30-6 and §33-30-12 of the Code of West Virginia relating to mine subsidence insurance.

The bill adds that recovery paid to the policyholder for an incurred covered loss must first be applied to property damages. If a source other than the mine subsidence fund provides payment to an insured for a loss insured by the mine subsidence insurance program, the fund is only liable up to the statutory limit of reinsurance for the portion of the loss not covered by other sources. Additionally, a mine subsidence insurance policyholder may not bring a cause of action or any other action against the insurer for claims which have been reported to the board arising out of or relating to mine subsidence insurance.

Please see House Bill 5462 for more information.