Prohibiting the post-loss assignment of benefits in property insurance.

Summary

The bill makes any agreement that transfers a property‑insurance claim’s benefits to a contractor or other third party after a loss void and unenforceable. It is aimed at homeowners and businesses so that the policyholder retains control of the claim. Violations can be fined $50,000 per occurrence, with specific exceptions for public adjusters, attorneys, lenders and liability coverage.

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