H.F. _____ Section 1. Section 515.109, subsection 6, paragraph a, Code 1 2022, is amended to read as follows: 2 a. The form of the standard policy (with permission to 3 substitute for the word “company” a more accurate descriptive 4 term for the type of insurer) shall be as follows: 5 FIRST PAGE OF STANDARD FIRE POLICY 6 No. ... 7 (Space for insertion of name of company or companies issuing 8 the policy and other matter permitted to be stated at the head 9 of the policy.) 10 (Space for listing amounts of insurance, rates and premiums 11 for the basic coverages insured under the standard form of 12 policy and for additional coverages or perils insured under 13 endorsements attached.) 14 IN CONSIDERATION OF THE PROVISIONS AND STIPULATIONS HEREIN 15 OR ADDED HERETO AND OF ...... DOLLARS PREMIUM this company, 16 for the term of ...... from the .... day of ....... (month), 17 ..... (year), to the .... day of ....... (month), .... 18 (year), at noon, Standard Time, at location of property 19 involved, to an amount not exceeding ......... Dollars, does 20 insure ........ and legal representatives, to the extent of 21 the actual cash value of the property at the time of loss, 22 but not exceeding the amount which it would cost to repair or 23 replace the property with material of like kind and quality 24 within a reasonable time after such loss, without allowance for 25 any increased cost of repair or reconstruction by reason of any 26 ordinance or law regulating construction or repair, and without 27 compensation for loss resulting from interruption of business 28 or manufacture, nor in any event for more than the interest of 29 the insured, against all DIRECT LOSS BY FIRE, LIGHTNING AND BY 30 REMOVAL FROM PREMISES ENDANGERED BY THE PERILS INSURED AGAINST 31 IN THIS POLICY, EXCEPT AS HEREINAFTER PROVIDED, to the property 32 described hereinafter while located or contained as described 33 in this policy, or pro rata for five days at each proper place 34 to which any of the property shall necessarily be removed for 35 -1- LSB 5640YC (5) 89 ko/rn 1/ 8

H.F. _____ preservation from the perils insured against in this policy, 1 but not elsewhere. 2 Assignment of this policy shall not be valid except with 3 the written consent of this company. This policy is made and 4 accepted subject to the foregoing provisions and stipulations 5 and those hereinafter stated, which are hereby made a part of 6 this policy, together with such other provisions, stipulations 7 and agreements as may be added hereto, as provided in this 8 policy. 9 IN WITNESS WHEREOF, this company has executed and attested 10 these presents. 11 ........ ........ 12 Secretary. President. 13 SECOND PAGE OF STANDARD FIRE POLICY 14 Concealment —— fraud. This entire policy shall be void 15 if, whether before or after a loss, an insured has willfully 16 concealed or misrepresented any material fact or circumstance 17 concerning this insurance or the subject thereof, or the 18 interest of an insured therein, or in case of any fraud or 19 false swearing by an insured relating thereto. 20 Uninsurable and excepted property. This policy shall not 21 cover accounts, bills, currency, deeds, evidences of debt, 22 money or securities; nor, unless specifically named hereon in 23 writing, bullion or manuscripts. 24 Perils not included. This company shall not be liable for 25 loss by fire or other perils insured against in this policy 26 caused, directly or indirectly, by: (a) Enemy attack by armed 27 forces, including action taken by military, naval or air forces 28 in resisting an actual or an immediately impending enemy 29 attack; (b) invasion; (c) insurrection; (d) rebellion; (e) 30 revolution; (f) civil war; (g) usurped power; (h) order of any 31 civil authority except acts of destruction at the time of and 32 for the purpose of preventing the spread of fire, provided that 33 such fire did not originate from any of the perils excluded by 34 this policy; (i) neglect of an insured to use all reasonable 35 -2- LSB 5640YC (5) 89 ko/rn 2/ 8

H.F. _____ means to save and preserve the property at and after a loss, 1 or when the property is endangered by fire in neighboring 2 premises; (j) nor shall this company be liable for loss by 3 theft. 4 Other insurance. Other insurance may be prohibited or the 5 amount of insurance may be limited by endorsement attached 6 hereto. 7 Conditions suspending or restricting insurance. Unless 8 otherwise provided in writing added hereto this company shall 9 not be liable for loss occurring under any of the following 10 circumstances: 11 [a] While the hazard is created or increased by any means 12 within the control or knowledge of an insured. 13 [b] While a described building, whether intended for 14 occupancy by owner or tenant, is vacant or unoccupied beyond a 15 period of sixty consecutive days. 16 [c] As a result of explosion or riot, unless fire ensue, and 17 in that event for loss by fire only. 18 Other perils or subjects. Any other peril to be insured 19 against or subject of insurance to be covered in this policy 20 shall be by endorsement in writing hereon or added hereto. 21 Added provisions. The extent of the application of insurance 22 under this policy and of the contribution to be made by this 23 company in case of loss, and any other provision or agreement 24 not inconsistent with the provisions of this policy, may be 25 provided for in writing added hereto, but no provision may be 26 waived except such as by the terms of this policy is subject to 27 change. 28 Waiver provisions. No permission affecting this insurance 29 shall exist, or waiver of any provision be valid, unless 30 granted herein or expressed in writing added hereto. No 31 provision, stipulation or forfeiture shall be held to be waived 32 by any requirement or proceeding on the part of this company 33 relating to appraisal or to any examination provided for 34 herein. 35 -3- LSB 5640YC (5) 89 ko/rn 3/ 8

H.F. _____ Cancellation of policy. This policy shall be canceled at any 1 time at the request of the insured, in which case this company 2 shall, upon demand and surrender of this policy, refund the 3 excess of paid premium above the customary short rates for the 4 expired time. This policy may be canceled at any time by this 5 company by giving to the insured a five days’ written notice 6 of cancellation with or without tender of the excess of paid 7 premium above the pro rata premium for the expired time, which 8 excess, if not tendered, shall be refunded on demand. Notice 9 of cancellation shall state that said excess premium (if not 10 tendered) will be refunded on demand. 11 Mortgagee interests and obligations. If loss hereunder is 12 made payable, in whole or in part, to a designated mortgagee 13 not named herein as the insured, such interest in this policy 14 may be canceled by giving to such mortgagee a ten days’ written 15 notice of cancellation. 16 If the insured fails to render proof of loss such mortgagee, 17 upon notice, shall render proof of loss in the form herein 18 specified within sixty days thereafter and shall be subject 19 to the provisions hereof relating to appraisal and time of 20 payment and of bringing suit. If this company shall claim 21 that no liability existed as to the mortgagor or owner, it 22 shall, to the extent of payment of loss to the mortgagee, 23 be subrogated to all the mortgagee’s rights of recovery, but 24 without impairing mortgagee’s right to sue; or it may pay off 25 the mortgage debt and require an assignment thereof and of 26 the mortgage. Other provisions relating to the interests and 27 obligations of such mortgagee may be added hereto by agreement 28 in writing. 29 Pro rata liability. This company shall not be liable for a 30 greater proportion of any loss than the amount hereby insured 31 shall bear to the whole insurance covering the property against 32 the peril involved, whether collectible or not. 33 Requirements in case loss occurs. The insured shall give 34 immediate written notice to this company of any loss, protect 35 -4- LSB 5640YC (5) 89 ko/rn 4/ 8

H.F. _____ the property from further damage, forthwith separate the 1 damaged and undamaged personal property, put it in the best 2 possible order, furnish a complete inventory of the destroyed, 3 damaged and undamaged property, showing in detail quantities, 4 costs, actual cash value and amounts of loss claimed; AND 5 WITHIN SIXTY DAYS AFTER THE LOSS, UNLESS SUCH TIME IS EXTENDED 6 IN WRITING BY THIS COMPANY, THE INSURED SHALL RENDER TO THIS 7 COMPANY A PROOF OF LOSS, signed and sworn to by the insured, 8 stating the knowledge and belief of the insured as to the 9 following: The time and origin of the loss, the interest of 10 the insured and of all others in the property, the actual cash 11 value of each item thereof and the amount of loss thereto, all 12 encumbrances thereon, all other contracts of insurance, whether 13 valid or not, covering any of said property, any changes in the 14 title, use, occupation, location, possession or exposures of 15 said property since the issuing of this policy, by whom and 16 for what purpose any building herein described and the several 17 parts thereof were occupied at the time of loss and whether 18 or not it then stood on leased ground, and shall furnish a 19 copy of all the descriptions and schedules in all policies 20 and, if required, verified plans and specifications of any 21 building, fixtures or machinery destroyed or damaged. The 22 insured, as often as may be reasonably required, shall exhibit 23 to any person designated by this company all that remains of 24 any property herein described, and submit to examinations 25 under oath by any person named by this company, and subscribe 26 the same; and, as often as may be reasonably required, shall 27 produce for examination all books of account, bills, invoices 28 and other vouchers, or certified copies thereof if originals be 29 lost, at such reasonable time and place as may be designated by 30 this company or its representative, and shall permit extracts 31 and copies thereof to be made. 32 Appraisal. In case the insured and this company shall fail 33 to agree as to the actual cash value or the amount of loss, 34 then, on the written demand of either , party may make a written 35 -5- LSB 5640YC (5) 89 ko/rn 5/ 8

H.F. _____ request for an appraisal. If the insured and this company 1 both agree in writing to an appraisal, each party shall have 2 up to twenty days from the date the last party agrees to the 3 appraisal to select a competent and disinterested appraiser 4 and to notify the other party of the appraiser selected within 5 twenty days of such demand . The appraisers shall first select 6 a competent and disinterested umpire; and failing for fifteen 7 days to agree upon such umpire, then, on request of the insured 8 or this company, such umpire shall be selected by a judge of 9 a court of record in the state in which the property covered 10 is located. The appraisers shall then appraise the loss, 11 stating separately actual cash value and loss to each item; 12 and, failing to agree, shall submit their differences, only, to 13 the umpire. An award in writing, so itemized, of any two when 14 filed with this company shall determine the amount of actual 15 cash value and loss. Each appraiser shall be paid by the party 16 selecting the appraiser and the expenses of appraisal and 17 umpire shall be paid by the parties equally. 18 Company’s options. It shall be optional with this company 19 to take all, or any part, of the property at the agreed or 20 appraised value, and also to repair, rebuild or replace the 21 property destroyed or damaged with other of like kind and 22 quality within a reasonable time, on giving notice of its 23 intention so to do within thirty days after the receipt of the 24 proof of loss herein required. 25 Abandonment. There can be no abandonment to this company of 26 any property. 27 When loss payable. The amount of loss for which this 28 company may be liable shall be payable sixty days after proof 29 of loss, as herein provided, is received by this company and 30 ascertainment of the loss is made either by agreement between 31 the insured and this company expressed in writing or by the 32 filing with this company of an award as herein provided. 33 Suit. No suit or action on this policy for the recovery of 34 any claim shall be sustainable in any court of law or equity 35 -6- LSB 5640YC (5) 89 ko/rn 6/ 8

H.F. _____ unless all the requirements of this policy shall have been 1 complied with, and unless commenced within twelve months next 2 after inception of the loss. 3 Subrogation. This company may require from the insured an 4 assignment of all right of recovery against any party for loss 5 to the extent that payment therefor is made by this company. 6 THIRD PAGE OF STANDARD FIRE POLICY 7 ATTACH FORM BELOW THIS LINE 8 FOURTH PAGE OF STANDARD FIRE POLICY 9 STANDARD FIRE INSURANCE POLICY 10 Expires . . . . . . . . . . . . . . . . . . 11 Property . . . . . . . . . . . . . . . . . 12 Amount $ . .. .. .. .. . Total 13 Premium $ . .. .. .. .. 14 . 15 Insured . . . . . . . . . . . . . . . . . . 16 ________________________________________________________________________________________________________________________ 17 SEE INSIDE OF POLICY FOR PERILS COVERED 18 NO. 19 (Space of approximately two (2) inches for use of Agent or 20 Insurer.) 21 (Space of approximately two (2) inches for use of Agent or 22 Insurer.) 23 Sec. 2. APPLICABILITY. This Act applies January 1, 2023, 24 to fire insurance contracts issued for delivery, continued, or 25 renewed in this state, and to insured losses incurred under 26 such contracts, on or after that date. 27 EXPLANATION 28 The inclusion of this explanation does not constitute agreement with 29 the explanation’s substance by the members of the general assembly. 30 This bill relates to fire insurance policies and to 31 appraisals of insured losses. 32 The bill provides that if the insured and the insurer fail to 33 agree on the actual cash value or the amount of a loss, either 34 party may make a written request for an appraisal. If both the 35 -7- LSB 5640YC (5) 89 ko/rn 7/ 8

H.F. _____ insured and the insurer agree in writing to an appraisal, each 1 shall have up to 20 days from the date the last party agrees to 2 an appraisal to select a competent and disinterested appraiser 3 and to notify the other party of the appraiser selected. 4 Under current law, upon the written demand of either the 5 insured or the insurer, both parties are required to select a 6 competent and disinterested appraiser and to notify the other 7 party of the appraiser selected within 20 days of such demand. 8 The bill applies January 1, 2023, to fire insurance policies 9 issued for delivery, continued, or renewed in this state, and 10 to insured losses incurred under such policies, on or after 11 that date. 12 -8- LSB 5640YC (5) 89 ko/rn 8/ 8