CA AB1734

Requires the Insurance Commissioner's Conservation and Liquidation Office to develop quarterly reports of allowed claims for corporations, limited liability companies, limited liability partnerships, and partnerships in insurer liquidation proceedings.

Mandates the office contact claimants with written notice of determination including average time estimates for claim payment and provide an opt-out option for claim reporting.

Requires the receiver, Commissioner, or Conservation and Liquidation Office to update payee designations within 30 days upon notice that an allowed claim has been assigned to another party.

Prohibits claim assignment requests within 30 days before distribution or 60 days after distribution has occurred, and allows the office to charge up to $250 in fees for processing reassignments.

Holds the Conservation and Liquidation Office harmless from liability for misrepresentation by claim assignors and places responsibility on claim purchasers to verify the assignor's legal authority to assign claims.