Plain English Breakdown
The official status indicates the hearing was postponed, so the bill has not yet been enacted into law despite passing chambers in some contexts.
AB-570: Shorter Deadline for Fire Insurance Policy Copies
This bill shortens the time insurance companies have to send a free copy of a fire insurance policy after receiving a request from an insured person following a covered loss.
What This Bill Does
- Changes the deadline for sending policy copies from 30 calendar days to 15 calendar days after receiving a request.
- Requires insurers to provide these copies only after a covered loss happens under a fire insurance policy.
- Keeps the rule that the copy must be free when requested by the insured person.
Who It Names or Affects
- Insurance companies that sell fire insurance policies in California.
- People who hold fire insurance and have experienced a covered loss.
Terms To Know
- Insurer
- A company that sells insurance policies to protect against losses.
- Covered loss
- Damage or destruction of property that the fire insurance policy agrees to pay for.
Limits and Unknowns
- The bill only changes rules for fire insurance, not other types of insurance.
- The text does not say what happens if an insurer misses the new 15-day deadline.
- The effective date is unknown because the official status shows a hearing was postponed.