BILL ANALYSIS Ó
AB 2884
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CONCURRENCE IN SENATE AMENDMENTS
AB
2884 (Committee on Insurance)
As Amended August 15, 2016
Majority vote
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|ASSEMBLY: | 79-0 | (April 21, |SENATE: | 39-0 |(August 17, |
| | |2016) | | |2016) |
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Original Committee Reference: INS.
SUMMARY: Makes numerous minor or technical changes to the
Insurance Code.
The Senate amendments clarify existing law regarding actuarial
filings to the Department of Insurance (DOI), require the
creation of an electronic filing system for consumer complaints,
restore a provision defining private passenger automobile
insurance, and repeal an obsolete section of the Insurance Code.
EXISTING LAW:
1)Defines a private passenger automobile policy.
2)Requires individuals who transact insurance to be licensed by
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the DOI.
3)Requires individuals licensed by the DOI to submit any
fictitious name for doing business other than that listed on
their license to the DOI and permits the commissioner to
disapprove that name if it is misleading or too similar to
another name already in use.
4)Requires the commissioner to publish a long-term care
insurance consumer rate guide that includes the rate history
for individual long-term care insurance products.
5)Requires individuals acting as an independent adjuster or
public adjuster to be licensed by the DOI.
6)Authorizes a charitable or qualified educational organization
to be licensed by the DOI as a grants and annuities society
that can accept gifts in exchange for providing the donor with
an annuity.
FISCAL EFFECT: Unknown
COMMENTS:
1)Purpose. This is the annual Department of Insurance (DOI)
omnibus bill. It contains numerous minor or non-controversial
changes to the Insurance Code.
Analysis Prepared by:
Paul Riches / INS. / (916) 319-2086 FN: 0004279
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