Connecticut HB05263 establishes rules for assigning post-loss benefits under homeowners and commercial property insurance policies, modifies home.

Connecticut HB05263 introduces regulations for the assignment of post-loss benefits under homeowners and commercial property insurance policies. It mandates that any assignment agreement must be in writing, executed by the assignor and assignee, and include specific notices and disclosures. The bill also modifies the terms of home improvement contracts, requiring them to include a right to cancel, a notice of cancellation rights, and a statement regarding the assignment of insurance policy benefits.

Connecticut HB05263 establishes rules for assigning post-loss benefits under homeowners and commercial property insurance policies, modifies home.

Connecticut HB05263 introduces regulations for the assignment of post-loss benefits under homeowners and commercial property insurance policies. It mandates that any assignment agreement must be in writing, executed by the assignor and assignee, and include specific notices and disclosures. The bill also modifies the terms of home improvement contracts, requiring them to include a right to cancel, a notice of cancellation rights, and a statement regarding the assignment of insurance policy benefits.