Residential property insurance.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Pending Referral
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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 modifies California law regarding residential property insurance claims related to corrosive soils. It requires insurers to notify policyholders at least 30 days before a statute of limitation expires on a claim for damage caused by corrosive soils. If the insurer fails to provide this notice, it will toll (pause) the statute of limitation for 30 days from the date the notice is actually given. The bill also clarifies that this requirement does not apply if the insurer has already received notice that the insured is represented by an attorney, and it specifically addresses claims presented before and after January 1, 1989.
Key provisions
- Insurers must notify policyholders at least 30 days before a corrosive soils claim statute of limitation expires.
- Failure to provide notice will toll the statute of limitation for 30 days.
- Notice is not required if the insurer has received attorney representation notice.
- The provision applies to claims presented before and after January 1, 1989.
Who is affected
- Residential property insurance policyholders
- Insurance companies
- Attorneys representing policyholders
Notable changes
- Establishes a requirement for insurers to proactively notify policyholders about statute of limitations.
- Creates a tolling mechanism for the statute of limitation in cases of non-compliance.
Bill text
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Sponsors
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1 on record
Primary sponsor
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