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Its budget is primarily derived from funds generated by license fees, assessments, and Proposition 103 recoupment fees. The CDI licenses over 1,500 insurance companies and more than 320,000 insurance agents and insurance brokers in the state of California, United States. The current California Insurance Commissioner is Ricardo Lara.
The California Consumer Financial Protection Law (CCFPL) gave the DFPI expanded enforcement powers to protect California consumers from unfair, deceptive, or abusive practices committed by unlicensed financial services or products; COVID-19 pandemic-inspired scams; and a regulatory retreat by some federal agencies, most notably the Consumer ...
Do insurance brokers charge a fee? Insurance brokers typically earn money in two primary ways: through commissions and broker fees. Commissions. Commissions are the most common form of income for ...
There are a number of major trade organizations that support the interests and needs of the independent insurance agent, including Agents For Change, [3] The National Organization of Life and Health Agents (NOLHA), [4] the Independent Insurance Agents & Brokers of America (The Big "I"), [5] and the National Association of Professional Insurance ...
An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotiating with multiple insurers, while an agent represents one or more specific insurers under a contract. [1]
The insurance industry argued the change was imperative given global warming's role in a number of wildfires, including in 2017 and 2018 when thousands of homes burned down.
The IIABA has spent more than $1 million in 2010 in lobbying efforts on federal crop insurance, insurance licensing reform, and other insurance issues. [2]The IIABA supported the National Association of Registered Agents and Brokers Reform Act of 2013 (H.R. 1155; 113th Congress), a bill which would reduce the regulatory costs of complying with multiple states' requirements for insurance ...
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