California Legislature—2015–16 Regular Session

Assembly Bill No. 2848

Introduced by Assembly Member Brown

February 19, 2016

An act to add Sections 49 and 124.6 to the Insurance Code, relating to insurance.

LEGISLATIVE COUNSEL’S DIGEST

AB 2848, as introduced, Brown. Insurance.

Existing law divides insurance in this state into classes, including life and disability insurance, to be regulated by the Department of Insurance.

This bill would require the department to develop rules and regulations for the governance of multiclass insurance, as defined.

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.  

Section 49 is added to the Insurance Code, to
read:

49.  

“Multiclass insurance” means insurance that provides, in
the same policy or certificate, benefits that fall within more than
one class of insurance pursuant to Section 100, or disability
insurance described in Section 106, that are subject to different
regulatory standards.

SEC. 2.  

Section 124.6 is added to the Insurance Code, to read:

124.6.  

The department shall develop rules and regulations for
the governance of multiclass insurance.