Residential property insurance: loss estimate transparency.

Existing law generally regulates classes of insurance, including residential property insurance. Existing law prohibits a policy of residential property insurance from being issued or renewed by an insurer unless the named insured is provided a copy of specified information, including the California Residential Insurance Disclosure. Under existing law, the California Standard Form Fire Insurance Policy requires an insured to notify every claimant that they can request copies of claim-related documents, as defined, that the insurer is required to provide within 15 calendar days of the request. This bill would require an insurer, in the event of a covered loss under a policy of residential property insurance, to provide the named insured every version of a claim-related document, as defined, within 15 calendar days of the creation or generation of the document. The bill would require the insurer to include the full name and title of every person who made, ordered, reviewed, or approved a change to the versions provided and a detailed explanation of why the change was made.