California High Court: Statutory Authority Supports Replacement Cost Regulation

Mealey's (January 25, 2017, 1:28 PM EST) -- SAN FRANCISCO — The Supreme Court of California on Jan. 23 held that statutory authority supports the California Insurance commissioner's 2011 regulation covering replacement cost estimates for homeowners insurance, reversing and remanding an appeals court’s judgment that invalidated the regulation (Association of California Insurance Companies et al., v. Dave Jones, as commissioner, etc., No. S226529, Calif. Sup.; 2017 Cal. LEXIS 217)....