Insurance Law 3407-A — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 3407 Property insurance; proofs of loss; notice of loss up ARTICLE 34 Insurance Contracts-property/casualty next SECTION 3408 Fire insurance; appraisal of loss; procedure for selection of umpire on failure to agree Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 3407-A Property/casualty insurance contract and policy standard provisions Insurance (ISC) CHAPTER 28, ARTICLE 34 § 3407-a. Property/casualty insurance contract and policy standard provisions. No property/casualty insurance policy or contract shall be issued or issued for delivery on a risk located or resident in this state insuring against damage to the insured's real property unless it contains in substance the following provision or a provision which is equal or more favorable to the insured: a provision that in the event of a pending claim for damage to real property, upon request, the insurer shall furnish to the insured's representative, designated in writing, or if none has been designated, to the insured, a copy of any written estimate or estimates of the cost of damages to real property resulting from the loss which the insurer has independently prepared for its own purposes, or had prepared on its behalf for its own purposes, specifying all appropriate deductions, within thirty days after the request or preparation, whichever is later, of such estimate or estimates. An insurer shall not be required to provide an estimate on claims for damages to real property unless it has independently prepared one or had one prepared on its behalf for the insurer's own purposes.