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CT HB06235
Bill
Status
1/27/2011
Primary Sponsor
Insurance and Real Estate Committee
Click for details
AI Summary
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Repeals and replaces Connecticut General Statutes Section 38a-307 effective October 1, 2011, establishing the standard form of fire insurance policy for the state.
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Establishes coverage for direct loss by fire, lightning, and removal from premises endangered by insured perils, up to actual cash value without exceeding repair or replacement cost.
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Requires insured to provide written notice of loss immediately, protect property from further damage, and submit proof of loss signed and sworn within 60 days (extendable by company).
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Includes provisions for policy cancellation (insured may cancel anytime; company must provide 30 days' written notice for cancellation, 10 days for nonpayment).
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Establishes appraisal process for disputed loss values, payment within 30 days of proof of loss receipt, and 18-month limitation period for lawsuits against the company.
Legislative Description
An Act Concerning The Standard Form Of Fire Insurance Policy.
Last Action
File Number 316
3/31/2011