INSURERS: Prohibits issuance of property insurance policies relative to unimproved land and replacement costs of improvements on immovable property

This bill prohibits insurance companies from issuing property insurance policies for unimproved land and restricts coverage related to the replacement costs of improvements on immovable property. The legislation specifically targets homeowner's insurance, aiming to clarify which types of land and property enhancements are eligible for coverage. By removing certain language regarding prohibited limits and unimproved land, the bill seeks to standardize how insurers handle risks associated with bare land and structural improvements.