Parametric earthquake coverage and terrorism coverage are among the potential items on the 2019 Export List hearing being held next month by the California Department of Insurance.
Adding a risk or coverage to the export list requires evidence there isn’t an adequate or reasonable market for that risk or coverage in the admitted market, or that the type of coverage is for new, innovative products for which a reasonable or adequate market among admitted insurers has not had time to develop.
The hearing is scheduled for 10 a.m. on Nov. 19 at the CDI’s San Francisco hearing room on the 22nd Floor, 45 Fremont St., in San Francisco.
The official CDI notice indicates a possibility of a request to add the following products, or variations thereof, to the list:
- Parametric earthquake
- Pollution package policies (General liability, contractors pollution liability, and professional liability)
- Scaffold operation/business/contractor/rental & sales first party and liability
- Terrorism/sabotage committed for political, religious, or ideological purposes
The notice also indicates there may be requests to delete or modify the following products currently listed on the Export List:
- Bridge plan
- High limits disability
- Deletion of “With Limits > $10M” from commercial DIC/stand-alone earthquake
The CDI notice also directs that all written testimony, comments or documents must be sent to the CDI in triplicate (original and two copies) and received by Libio Latimer, Attorney III, California Department of Insurance, 45 Fremont St., 24th Floor, San Francisco, CA 94105 by no later than 5 p.m. on Nov. 19.
In addition to written submissions, questions regarding the CDI notice and opportunities to testify can also be directed to Latimer at (415) 538-4420. Cliston Brown with the Surplus Line Association of California is also fielding questions. He is at (415) 434-4900, ext. 1139.
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