AB2547 clarifies that insurers can rely on applicants' statements about insurable interest without incurring liability.

AB2547 amends Section 10110.2 of the Insurance Code to clarify that insurers are entitled to rely on all statements, declarations, and representations made by insurance applicants regarding the insurable interest they have in the insured. Insurers will not incur legal liability due to untrue statements if they rely on them in good faith. This provision ensures that insurers can base their decisions on the information provided by applicants.

AB2547 clarifies that insurers can rely on applicants' statements about insurable interest without incurring liability.

AB2547 amends Section 10110.2 of the Insurance Code to clarify that insurers are entitled to rely on all statements, declarations, and representations made by insurance applicants regarding the insurable interest they have in the insured. Insurers will not incur legal liability due to untrue statements if they rely on them in good faith. This provision ensures that insurers can base their decisions on the information provided by applicants.