Maryland HB283 establishes the method for calculating the measure of the actual cash value recovery in the settlement of a first-party claim under a.
Maryland HB283 amends the Insurance provisions to establish the method for calculating the measure of the actual cash value recovery in the settlement of a first-party claim under a residential or commercial property insurance policy. It specifies that the measure of the actual cash value recovery shall be the lesser of the cost to repair, rebuild, or replace the damaged or destroyed property or the policy limit.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.