BILL NUMBER: AB 1155	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Wilk

                        FEBRUARY 22, 2013

   An act to amend Section 1185 of the Insurance Code, relating to
insurance.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 1155, as introduced, Wilk. Insurance: disclosure: material
transactions.
   Existing law requires every domestic incorporated insurer to file
a report with the Insurance Commissioner disclosing material
acquisitions and dispositions of assets or material nonrenewals,
cancellations, or revisions of ceded reinsurance agreements unless
the acquisitions and dispositions of assets or material nonrenewals,
cancellations, or revisions of ceded reinsurance agreements have been
submitted to the commissioner for review, approval, or information
purposes, as specified. All reports obtained by, or disclosed to the
commissioner are confidential.
   This bill would make technical, nonsubstantive changes to these
provisions.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


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

  SECTION 1.  Section 1185 of the Insurance Code is amended to read:
   1185.  (a) Every domestic incorporated insurer shall file a report
with the commissioner disclosing material acquisitions and
dispositions of assets or material nonrenewals, cancellations, or
revisions of ceded reinsurance agreements unless the acquisitions and
dispositions of assets or material nonrenewals, cancellations, or
revisions of ceded reinsurance agreements have been submitted to the
commissioner for review, approval, or information purposes pursuant
to other provisions of this code, laws, regulations, or other
requirements.
   (b) The report shall be filed within 15 days after the end of the
calendar month in which any of the foregoing transactions occur.
   (c) One complete copy of the report, including any exhibits or
other attachments filed as part  thereof   of
the report , shall be filed with the department and the National
Association of Insurance Commissioners.
   (d) All reports obtained by, or disclosed to the commissioner
pursuant to this article, shall be given confidential treatment and
shall not be subject to subpoena and shall not be made public by the
commissioner, the National Association of Insurance Commissioners, or
any other person, except to insurance departments of other states,
without the prior written consent of the insurer to which it pertains
unless the commissioner, after giving the  affected 
insurer  who would be affected thereby,  notice and
an opportunity to be heard, determines that the interest of
policyholders, shareholders, or the public will be served by the
publication  thereof   of the report  , in
which event the commissioner may publish all or any part 
thereof   of the report  in  such 
 the  manner  as  he or she  may
deem   deems  appropriate.