20515 a 1 under an open policy that requires payment of the replacement cost for a loss the measure of indemnity is the amount that it would cost the insured to repair rebuild or replace the thing lost or injured without a deduction for physical depreciation or the policy limit whichever is less. Amended by stats 2004 ch 279 sec 1 arising from errors and omissions as defined and described in the amounts and limits set forth in section 16475 of the california insurance code i understand and agree that the insurance coverage for the entity and persons insured under this policy or policies may not be terminated canceled or . The california insurance code cic is maintained by the california legislative counsel bureau and contains all the laws relating to insurance in california to locate a code section in the cic follow the link above once on the legislative counsel bureaus website select the insurance code ins link. Article 25 making and use of rates insurance of properties being purchased from department of veterans affairs
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