California SB878 amends insurance practices for residential property claims.
California SB878 modifies the Insurance Code to enhance the handling of residential property insurance claims. Insurers must acknowledge claims within 15 days and provide necessary forms and assistance. Insurers must accept or deny claims within 40 days, with additional time allowed for good cause. Insurers cannot require proof of loss for state of emergency losses for 100 days and must offer extensions. Insurers must pay the replacement cost within 30 days of certain conditions being met, with interest accruing for late payments.
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