Calif. Governor Gray Davis signed a bill last week requiring certain information to be posted on websites for all insurance producers and companies transacting insurance with California residents.
Specifically, AB 2251 (Cox) mandates the name of the insurance agent/broker as it appears on the insurance license, the license number, and the state of the domicile or principal place of business. The bill puts similar requirements in place for insurance companies, with the exception of non-admitted carriers.
The bill defines transacting insurance as providing a quote or accepting an application for coverage from a California resident, and/or communicating with a California resident regarding one or more terms of an agreement to provide insurance or an insurance policy. The law is effective Jan. 1, 2001.
For a closer look, visit www.leginfo.ca.gov/pub/bill/asm/ab_2251-2300/ab_2251_bill_20000809_chaptered.html
Topics California
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