A bill for an act relating to insurer’s requests for information and claim timelines, and property and casualty insurer’s loss calculations, adjustments, payments of claims, and policy terms.
This bill establishes specific timelines and requirements for property and casualty insurance companies when they request information from policyholders and process claims. It aims to standardize how insurers calculate losses, make adjustments, and pay out claims to ensure fairer treatment of policyholders.