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CA SB755
Bill
AI Summary
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Requires insurers that do not place insurance through agents or brokers to notify policyholders in writing when failing to renew or offer renewal of residential property insurance policies.
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Notifications must advise policyholders that other insurers working with agents or brokers may help find coverage and that surplus line brokers can access nonadmitted insurers.
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Notifications must provide the California FAIR Plan's internet website address and toll-free telephone number, informing policyholders the FAIR Plan can help secure appropriate insurance coverage.
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Notifications must include the Department of Insurance's internet website address and explain how the California Home Insurance Finder can help policyholders locate replacement insurance policies.
Legislative Description
Insurance: residential property insurance: requirements upon nonrenewal.
Last Action
Referred to Com. on INS.
6/18/2020