Plain English Breakdown
The plain English breakdown is still being put together. The official documents below are already here.
HB4472 • 2026
Clarifying that commercial real property insurance policies may be underwritten for less than replacement cost value of the insured property
Clarifying that commercial real property insurance policies may be underwritten for less than replacement cost value of the insured property
Passed Legislature
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Bill History
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2026-01-29
H
To House Banking and Insurance
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2026-01-16
H
To House Finance
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2026-01-16
H
Introduced in House
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2026-01-16
H
To Finance
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2026-01-16
H
Filed for introduction
Official Summary Text
Clarifying that commercial real property insurance policies may be underwritten for less than replacement cost value of the insured property
Current Bill Text
Read the full stored bill text
HB 4472 Text skip navigation SENATE PRESIDENT SENATORS COMMITTEES VIDEO/AUDIO DISTRICT MAPS SENATE CLERK SENATE RULES HOUSE SPEAKER DELEGATES COMMITTEES VIDEO/AUDIO DISTRICT MAPS HOUSE CLERK HOUSE RULES HOUSE STAFF JOINT INTERIM COMMITTEES LEGISLATIVE ADMINISTRATOR LEGISLATIVE SERVICES DIVISION PUBLIC INFORMATION LEGISLATIVE AUTOMATED SYSTEMS DIVISION LEGISLATIVE AUDITOR'S OFFICE PERFORMANCE EVALUATION & RESEARCH DIVISION POST AUDIT DIVISION BUDGET DIVISION REGULATORY AND FISCAL AFFAIRS DIVISION CLAIMS COMMISSION CRIME VICTIMS RULE-MAKING REVIEW SPECIAL INVESTIGATIONS JUDICIAL COMP. COMMISSION JOINT RULES STAFF INFO BILL STATUS BILL STATUS BILL TRACKING STATE LAW WEST VIRGINIA CODE ACTS OF THE LEGISLATURE CODE OF 1931 WV CONSTITUTION US CONSTITUTION REPORTS AGENCY REPORTS AGENCY GRANT AWARDS PERFORMANCE EVALUATIONS POST AUDITS EDUCATIONAL CITIZEN’S GUIDE INTERNSHIP PROGRAM PAGE PROGRAM PUBLICATIONS PHOTO GALLERY CAPITOL HISTORY HOW A BILL BECOMES LAW CONTACT SENATE ROSTER HOUSE ROSTER PUBLIC INFO. NEWS RELEASES HELPFUL LINKS Introduced Version House Bill 4472 History | Email Key: Green = existing Code. Red = new code to be enacted WEST VIRGINIA LEGISLATURE 2026 REGULAR SESSION Introduced House Bill 4472 By Delegates Statler, McCormick, Chiarelli, and Street [Introduced January 16, 2026; referred to the Committee on Finance] A BILL to amend and reenact §33-17-9 of the Code of West Virginia, 1931, as amended, relating to clarifying that commercial real property insurance policies may be underwritten for less than replacement cost value of the insured property. Be it enacted by the Legislature of West Virginia: ARTICLE 17. FIRE AND MARINE INSURANCE. §33-17-9. Total or partial fire loss. (a) All insurers providing fire insurance on real property in West Virginia shall be liable, in case of total loss by fire or otherwise, as stated in the policy, for the whole amount of insurance stated in the policy, upon such real property; and in case of partial loss by fire or otherwise, as aforesaid, of the real property insured, the liability shall be for the total amount of the partial loss, not to exceed the whole amount of insurance upon the real property as stated in the policy. This section does not apply where such insurance has been procured from two or more insurers covering the same interest in such real property. Notwithstanding any other provision of this code to the contrary, it is hereby clarified that insurance policies covering commercial real property may be underwritten for any total amount agreed-upon by the insurer and the insured, including, but not limited to, replacement cost value, actual cost value, or market value, as determined by a qualified appraiser, or any other amount the p a rties to the insurance contract agree upon. (b) As used in this section: "Replacement cost value" means the cost to repair or replace the commercial real property damaged or destroyed without deducting depreciation, and "Actual cost value" means depreciated cost to repair or replace the commercial real property damaged or destroyed. NOTE: The purpose of this bill is to clarify that insurance policies covering commercial or industrial real property may be underwritten for any amount agreed-upon by the parties, even if that amount is less than the replacement cost value. Strike-throughs indicate language that would be stricken from a heading or the present law and underscoring indicates new language that would be added. Bill Status | Bill Tracking | Legacy WV Code | Bulletin Board | District Maps | Senate Roster | House Roster | Live | Blog | Jobs | Links | Home This Web site is maintained by the West Virginia Legislature's Office of Reference & Information. | Terms of Use | Webmaster | © 2026 West Virginia Legislature ** Print On Demand Name: Email: Phone: