CA SB878

Establishes mandatory deadlines for fire insurance claims: insurers must acknowledge claims within 15 calendar days, accept or deny claims within 40 days of receiving proof, and tender payment within 30 days of acceptance

Imposes 20% annual interest penalty plus reasonable attorney's fees on insurers who fail to meet claim processing deadlines, in addition to the claim amount owed

Requires insurers to submit quarterly prompt-payment compliance reports to the Department of Insurance starting January 2028, detailing total claims received, compliance rates, late payments, and interest paid

Mandates that a corporate officer sign each compliance report under penalty of perjury, certifying accuracy and completeness

Requires the Department of Insurance to publish quarterly reports on its website beginning July 1, 2028, displaying each insurer's prompt-payment compliance data publicly