INSURANCE: Provides relative to certain insurer contractual payments and prescriptive period
Signed by the Governor. Becomes Act No. 876.
Summary
The new law requires insurers to provide a written notice to claimants when they issue an unconditional payment on a dwelling or other structures claim under a homeowners' policy. The notice must state that the payment does not interrupt, suspend, or extend the statutory deadline for filing a lawsuit. This ensures homeowners understand that their right to sue remains unchanged despite receiving a payment.
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