Legislation

SB 708, Chapter 727 - Expands Earthquake Mediation Program SB 658, Chapter 583 - Requires an insurer to provide information relating to unfair methods of competition.

SB 708, Chapter 727: Expands an earthquake mediation program to include automotive insurance claims, prohibit the State Department of Insurance from refusing to investigate complaints under specified circumstances, creates new requirements for insurance adjusters and insurers who adjust earthquake claims, and extends the sunset date on the earthquake mediation program to 2006.

SB 658, Chapter 583: Requires an insurer to provide certain insureds with information relating to unfair methods of competition and deceptive acts or practices in the business of insurance in its initial response to a claim. The law modifies the standard form of fire insurance policy for this state relative to the obligations of the insured and insurer and to appraisals, adjusters, and loss requirements for a policy originated or renewed on and after January 1, 2002.

Requires that all conditions applicable to loss requirements, appraisals, and adjusters contained in standard form fire insurance policies apply to residential property insurance policies, policies providing coverage for loss or damage caused by earthquake, and basic residential earthquake insurance policies that are originated or renewed on and after January 1, 2002.