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
Was this article valuable?
Here are more articles you may enjoy.
Marsh, Aon in Talks With US on Insuring Tankers in Hormuz 
Kyle Busch and Wife Settle Lawsuit With Pacific Life and Insurance Agent 
Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates 
Zurich Insurance and Beazley Agree to $10.9B Cash Acquisition 
