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SB-588 Property insurance.(2021-2022)

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Date Published: 02/18/2021 09:00 PM
SB588:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2021–2022 REGULAR SESSION

Senate Bill
No. 588

Introduced by Senator Jones

February 18, 2021

An act to amend Section 678.5 of the Insurance Code, relating to insurance.


LEGISLATIVE COUNSEL'S DIGEST


SB 588, as introduced, Jones. Property insurance.
Existing law generally regulates classes of insurance, including property insurance. Existing law prohibits the cancellation of a policy issued, amended, or renewed on or after January 1, 1990, that insures against loss of or damage to specified real property, and prohibits nonrenewal of those policies solely on the grounds of corrosive soil conditions if the policy or renewal policy contains an existing exclusion for payment of loss for corrosive soil conditions.
This bill would make technical, nonsubstantive changes to that provision.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 678.5 of the Insurance Code is amended to read:

678.5.
 No A policy specified in Section 675 that is issued, amended, or renewed on or after January 1, 1990, may shall not be canceled, and an insurer may shall not refuse to renew such a the policy solely on the grounds of corrosive soil conditions if the policy or renewal policy contains an existing exclusion for payment of loss for that peril.