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Late last month, California Insurance Commissioner Dave Jones, joined by Amy Bach, executive director of United Policyholders, announced a series of new homeowner regulations aimed at enhancing the standards and training for estimating the replacement value on homeowners insurance in the event of a disaster. These new regulations also represent a concerted effort to significantly curb the common problem of underinsurance that many homeowners face.
The new regulations include provisions for laying out requirements applicable to replacement value and replacement cost estimates to create a more consistent, comprehensive and accurate replacement cost calculation; setting forth training standards for agents and brokers who sell homeowners insurance; creating standards for real estate appraisers who estimate replacement cost for insurance purposes; requiring the application of certain standards when estimating replacement and construction costs; and establishing record keeping requirements.
The regulation addresses how insurance companies communicate with their customers when they are making a sale, ensuring they give them complete and accurate information and not mislead them. According to Commissioner Jones and complaints filed with the Department, when policies are sold to customers there has been confusion about what a “replacement cost” estimate actually covers. This regulation clears up that confusion. Insurance companies are not required to provide an estimate, but if they do, it must be complete and include certain components.
SILVAR is happy to announce great news and another free benefit for members. Instanet has officially released tablet support. PRDS subscribers are now able to log in to create transactions, forms and edit forms just like you currently do using your desktop or laptop. You can access PRDS Forms on Instanet on popular Apple, Windows and Android-based tablet devices such as the iPad/iPad2, Xoom, Galaxy, Playbook and others at no additional charge.
Instanet’s approach has been to make its site “tablet friendly,” rather than require users to learn an entirely new interface and download an app for a certain device. The goal is to provide as many features as possible on as many devices as possible.
As a current PRDS/Instanet user, all you need to do is log into your existing Instanet account through your tablet browser and you will automatically be accessing the new version. There is no new software to install or apps to download.
Most system functions will already work on the tablet. As Instanet makes more features “tablet ready,” it will give SILVAR updates for users. Instanet will also post a system message for users logging in on tablets, so they are aware of the updates.
PRDS and Instanet Solutions are pleased to bring this mobile technology to SILVAR members.
Silicon Valley Association of REALTORS® says ... 