Establishes minimum limitations standards for structural property damage claims and voids any policy provision that shortens those standards.

This bill establishes minimum limitations standards for structural property damage claims, voiding any policy provision, endorsement, condition, limitation, agreement, or claim practice that shortens those standards. It prohibits insurers and insurer-affiliated claim handlers from treating any payment as a full settlement or claim closure without a formal written release and settlement agreement executed by the claimant or insured, and notarized. The bill also requires clear disclosures to insureds and claimants regarding applicable time limitations and claim rights.

Establishes minimum limitations standards for structural property damage claims and voids any policy provision that shortens those standards.

This bill establishes minimum limitations standards for structural property damage claims, voiding any policy provision, endorsement, condition, limitation, agreement, or claim practice that shortens those standards. It prohibits insurers and insurer-affiliated claim handlers from treating any payment as a full settlement or claim closure without a formal written release and settlement agreement executed by the claimant or insured, and notarized. The bill also requires clear disclosures to insureds and claimants regarding applicable time limitations and claim rights.