Insurance: policy documents.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill changes the timeline for insurance companies to provide policy documents to insureds after a covered loss. Currently, insurers have 30 days to provide a free copy of the policy upon request, but this bill reduces that timeframe to 15 days. The bill also clarifies that insurers can provide electronic copies of policies to insureds who haven’t opted for electronic documents, while exempting this from electronic transaction requirements.
Key provisions
- Reduces the timeframe for insurers to provide policy documents to 15 days after a request.
- Allows insurers to provide electronic copies of policies to insureds who haven't opted for electronic documents.
- Exempts electronic policy provision from Section 38.6 electronic transaction requirements.
- Requires insurers to provide a complete copy of the policy, including endorsements and declarations page.
Who is affected
- Insureds of fire insurance policies
- Insurance companies
- The Insurance Commissioner
Notable changes
- Shortens the timeframe for providing policy documents from 30 days to 15 days.
- Introduces the option for electronic policy delivery for non-electronic document recipients.
Bill text
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Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
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