Insuralex´s exclusive member in California talks about the new California insurance laws for 2020
The California legislature didn’t exactly leave coal in the insurance industry’s stocking in 2019, but it did make a number of changes to California’s insurance statutes. Those changes include revisions to the manner of calculation of actual cash value, including the abrogation of the fair market value rule established by Jefferson Ins. Co. v. Superior Court, 3 Cal.3d 398 (1970).
In addition, changes were made regarding procedures when a third adjuster is assigned to a property insurance claim, non-renewal procedures, the Insurance Information Privacy Act, and automobile physical damage payment.