Establishes minimum limitations standards for structural property damage claims and voids any policy shortening those standards.

This bill establishes minimum limitations standards for structural property damage claims and voids any policy provision, endorsement, condition, limitation, agreement, or claim practice that shortens those standards. It requires insurers to provide written notice to insureds and claimants regarding applicable time limitations and claim rights. The bill also prohibits insurers from treating any payment as a full settlement or claim closure without a formal written release executed by the claimant or insured, witnessed by at least one disinterested adult witness, and notarized by a notary who.

Establishes minimum limitations standards for structural property damage claims and voids any policy shortening those standards.

This bill establishes minimum limitations standards for structural property damage claims and voids any policy provision, endorsement, condition, limitation, agreement, or claim practice that shortens those standards. It requires insurers to provide written notice to insureds and claimants regarding applicable time limitations and claim rights. The bill also prohibits insurers from treating any payment as a full settlement or claim closure without a formal written release executed by the claimant or insured, witnessed by at least one disinterested adult witness, and notarized by a notary who.