DE HB276

Adds new subsection (c) to § 2720 allowing property insurance policies to restrict assignment of rights and benefits only to persons with legal authority to represent the named insured.

Defines "legal authority to represent the named insured" to include persons named with power of attorney, licensed public adjusters, or comparable representatives.

Explicitly permits property insurance policies to prohibit assignment to property repair contractors, even if they hold power of attorney from the named insured.

Clarifies that life and health insurance policies and their rights and benefits remain assignable by pledge or transfer of title when executed by the insured or owner alone.

Requires insurers to honor assignments until they receive written notice of termination or conflicting claims at their home office.