Bill Summary

by Spencer

Resolution of Disputed Property Insurance Claims: Requires, rather than authorizes, parties in property insurance claim dispute to participate in mediation; provides that mediation is condition precedent to commencing litigation; provides that parties may mutually agree to conduct mediation by teleconference or other electronic means; requires all insureds, or their representatives, to personally attend mediation; revises & specifies duties relating to bearing certain costs of mediation; requires policyholder to provide insurer with any information & certain documents within specified timeframe after mediation is invoked; revises conditions under which policyholder has certain timeframe to rescind settlement. Effective Date: Except as otherwise expressly provided in this act and except for this section, which shall take effect July 1, 2025, this act shall take effect January 1, 2026

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