Calif. Regulation Revival Boosts Home Coverage Confidence

Law360, Los Angeles (January 25, 2017, 3:37 PM EST) -- The California Supreme Court's ruling Monday reviving the state insurance commissioner's challenged regulation aimed at producing more accurate insurer estimates of home replacement costs provides greater certainty for homeowners on property coverage and should reduce litigation between policyholders and carriers, experts say.

In a unanimous decision, the California high court found that Insurance Commissioner Dave Jones was within his authority to enact a new rule designed to stamp out insurers' alleged practice of providing incomplete home replacement cost estimates, leaving homeowners underinsured and unable to rebuild...
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