Insurance; Creates Property Insurance Commission; provides for election of Commissioner of Insurance Regulation; revises homeowners' eligibility criteria for mitigation grants; requires interests earned on insurance proceeds received by mortgagees & assignees to be paid to insureds; prohibits property insurers from claiming insolvency under certain circumstances; authorizes persons that engage in property insurance activities in other states to engage in insurance activities in this state only under certain circumstances; requires property insurers to cap premiums or to create sliding fee scales for premium rates; prohibits property insurers from using certain defenses as claims denials; revises requirements for risk assignment agreements; provides duties of OIR; requires DFS to adopt rules regarding allegations of insurance fraud; requires OPPAGA to conduct study of effectiveness of property insurance mediation program; increases appropriation to specified program. APPROPRIATION: $300,000,000