BILL NUMBER: AB 584	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Members Perea and Cooley

                        FEBRUARY 20, 2013

   An act to add Article 10.6 (commencing with Section 935) to
Chapter 1 of Part 2 of Division 1 of the Insurance Code, relating to
insurance.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 584, as introduced, Perea. Insurance: risk and solvency
assessment.
   Existing law regulates the business of insurance, including, but
not limited to, requiring that each domestic, foreign, and alien
insurer doing business in this state annually, on or before the first
day of March of each year, file with the National Association of
Insurance Commissioners a copy of its annual statement convention
blank, along with any additional filings as prescribed by the
Insurance Commissioner for the preceding year.
   This bill would require all domestic, foreign, and alien insurers
doing business in this state, on an annual basis, to submit to the
commissioner an Own Risk and Solvency Assessment Summary Report
applicable to the insurer or the insurer's insurance group.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


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

  SECTION 1.  Article 10.6 (commencing with Section 935) is added to
Chapter 1 of Part 2 of Division 1 of the Insurance Code, to read:

      Article 10.6.  Own Risk and Solvency Assessment


   935.  The provisions of this article shall apply to all domestic,
foreign, and alien insurers doing business in this state.
   936.  On an annual basis, an insurer shall submit to the
commissioner an Own Risk and Solvency Assessment Summary Report
applicable to the insurer or the insurance group of which the insurer
is a member.