BILL ANALYSIS AB 2782 Page 1 CONCURRENCE IN SENATE AMENDMENTS AB 2782 (Insurance Committee) As Amended August 17, 2010 Majority vote ----------------------------------------------------------------- |ASSEMBLY: |76-0 |(May 13, 2010) |SENATE: |36-0 |(August 23, | | | | | | |2010) | ----------------------------------------------------------------- Original Committee Reference: INS. SUMMARY : Makes various changes to California laws including licensing-related changes to align law with the National Association of Insurance Commissioners (NAIC) Producer Licensing Model Act (PLMA). The Senate amendments : 1)Permit the Insurance Commissioner (IC) to modify the frequency and due dates of specified reports. 2) Clarify the conditions that specified products do not constitute guaranteed automobile protection insurance. AS PASSED BY THE ASSEMBLY , this bill: 1)Made various changes, including technical revisions to investment law and licensing-related changes, including changes to conform California law to the National Association of Insurance Commissioners (NAIC) Producer Licensing Model Act (PLMA). 2)Allowed the IC to modify the frequency and due date of certain reports under current law and eliminated one annual report to the Governor and the Legislature. FISCAL EFFECT : Minor and absorbable workload to California Department of Insurance (CDI). COMMENTS : This bill is sponsored by the CDI to increase conformity of the state law relative to recommendations of the NAIC PMLA. The NAIC is the organization of insurance regulators from the 50 states. AB 2782 Page 2 This bill makes confirming changes across a number of statues including laws governing, bail bonds, insurance adjuster licensure, continuing education requirements and the authority of the department to receive attorney fees in specified circumstances. Analysis Prepared by : Tracy Elwell / INS. / (916) 319-2086 FN: 0006363