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Arkansas, Florida, Georgia, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Ohio, South Carolina, South Dakota, Tennessee, Texas, West Virginia, and Wisconsin. California
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Steve1. Legislation in a number of states requiring insurers to pay the face amount of a fire insurance policy in case of total loss to a dwelling (or sometimes another specified type of building), rather than the actual cash value of the loss. Such laws in effect override the principle of Indemnity that normally governs property and liability insurance contracts. These laws were put into place to protect the consumer because many companies were insuring properties based on market values or mortgage values, when they were so inflated and were way over insuring homes. If you had a total loss at that time they would pay out the ACV, so to fix this they instituted these laws to protect consumers and to hold the insurance companies accountable for the amount of insurance that they place on a home. Each state will be different in what and how it is applied meaning it may not include earthquake or flood losses, or it may only apply to loss by fire or only on mobile homes ect…
States that are valued policy states include: Florida, Texas, Missouri, Louisiana, Wisconsin, Arkansas, Mississippi, Minnesota and there are more that I just have not encountered or could not find information on them.
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What role do state legislatures and the us congress play in the policy making process?
They debate, revise, and adopt proposals for laws that establish policy.
What are the two exceptions to full faith and credit?
A major exception is the public policy exception. Federal courts are less likely to force a state to enforce the laws of a second state where that law conflicts with the public policy of the first state.
What does state policy mean?
State policy can be defined as the rules that govern a state. This includes the laws and bills that have been passed by the legislative.
States are allowed to make their own laws as long as?
Either the congress approves, they agree with laws in other states, they agree with the United States constitution, and the president approves them.
APEXarticle IV of the constitution , which includes the full faith and credit clause, ensures that?
Laws passed in one state are honored by other states
