All property insurance coverage required to allow appraisal of damages and alternative resolution.

Summary

The bill mandates that fire and allied lines property insurance policies must provide a formal appraisal procedure when the insurer and insured cannot agree on loss value, with costs split equally. It also bars a lawsuit unless the appraisal steps are completed and the claim is filed within two years of the loss. The change replaces an older hail‑insurance rule and becomes effective Jan. 1, 2027.

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