CT HB05204

Effective July 1, 2019, modifies insurance policy requirements for fire and comprehensive coverage policies to allow compliance flexibility when coverage is combined on an unspecified or indivisible premium basis.

Requires such combined policies to provide fire coverage substantially equivalent to standard fire insurance policies and incorporate specific provisions regarding mortgagee interests, actual cash value definitions, loss payment timing, and lawsuit filing deadlines.

Mandates that policies include coverage for increased costs of repair or reconstruction due to ordinances or laws regulating such repair or reconstruction, up to the amount specified in the policy.

Requires policies to be complete and self-contained without reference to other documents, and remain subject to commissioner approval for compliance.

Applies to policies made, issued, or delivered on or after July 1, 2019, including renewals.