BILL NUMBER: AB 837	CHAPTERED  07/18/05

	CHAPTER  67
	FILED WITH SECRETARY OF STATE  JULY 18, 2005
	APPROVED BY GOVERNOR  JULY 18, 2005
	PASSED THE SENATE  JULY 1, 2005
	PASSED THE ASSEMBLY  MAY 5, 2005
	AMENDED IN ASSEMBLY  APRIL 28, 2005
	AMENDED IN ASSEMBLY  APRIL 6, 2005
	AMENDED IN ASSEMBLY  MARCH 31, 2005

INTRODUCED BY   Assembly Member Benoit

                        FEBRUARY 18, 2005

   An act to add Section 10110.5 to the Insurance Code, relating to
insurance.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 837, Benoit  Insurance: unemployment.
   Existing law regulates the issuance of life insurance policies, as
specified.
   This bill would authorize an insurance policy or endorsement
issued by an admitted life and disability insurer to contain a
provision for a waiver of premium payments in the event of
involuntary unemployment of the insured. The bill would require an
insurer issuing policies or endorsements containing the waiver
provision to establish reserves and file reports that the Insurance
Commissioner may require.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:


  SECTION 1.  Section 10110.5 is added to the Insurance Code, to
read:
   10110.5.  A policy or endorsement issued by an admitted life and
disability insurer may contain a provision for a waiver of premium
payments in the event of involuntary unemployment of the insured.
Insurers issuing policies or endorsements which contain that
provision shall establish any additional reserves and file any
additional financial reports that the commissioner may require.