AN ACT CONCERNING THE ASSIGNMENT OF POST-LOSS HOMEOWNERS AND COMMERCIAL PROPERTY INSURANCE BENEFITS AND REVISING DISCLOSURE REQUIREMENTS FOR HOME IMPROVEMENT CONTRACTORS AND SALESPERSONS.

HB 6967 establishes new rules for homeowners and businesses assigning insurance claim benefits to contractors after property damage. It requires all assignment agreements (effective January 2026) to be in writing, include a clear 14-day rescission period for policyholders, provide itemized cost estimates, and display a prominent warning about giving up insurance rights. The bill also mandates contractors deliver signed agreements to insurers within three business days or before work begins, and prohibits fees like bank check processing charges or cancellation penalties. This directly affects homeowners, commercial property owners, contractors, and insurers by increasing transparency and protecting policyholders from unfair contract terms.