Resolution of Disputed Property Insurance Claims

Resolution of Disputed Property Insurance Claims; Requires, rather than authorizes, parties to property insurance claims dispute to participate in mediation; provides that mediation is condition precedent to commencing litigation; provides that parties may mutually agree to conduct mediation by teleconference or by telephone; requires all insureds to personally attend mediation; revises & specifies duties as to bearing certain costs of mediation; requires, rather than authorizes, DFS to adopt certain rules; authorizes department to adopt certain emergency rules; requires policyholder to provide insurer with certain documents after mediation is invoked; revises conditions under which policyholder has certain timeframe to rescind settlement. APPROPRIATION: $1,000,000