Commissioner-sponsored Bill to Protect Wildfire Survivors Signed by Governor
Insurance Commissioner
"This bill is an important step in the right direction, but it's disappointing that some insurers got the original version of the bill amended so that it no longer requires insurers to provide an annual replacement cost estimate," said Insurance Commissioner
AB 1797 (Levine) is aimed at making sure that homeowners are given an updated replacement cost estimate for their home. Current regulations require a complete and comprehensive estimate of the cost to replace a home when a replacement estimate is provided by the insurer, but state law does not mandate that insurers produce or regularly update a replacement cost calculation. AB 1797 would require insurers to either provide a policyholder with a full replacement cost estimate every other year or apply an inflation factor to the dwelling limit at each renewal and clearly offer the consumer the option to obtain a full replacement cost estimate.
Betsy Rader Calls Out Republicans for Running on Medicare and Social Security Cuts
Government of Canada Provides Support for Youth in Thunder Bay
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