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Proposition 103, titled Insurance Rate Reduction and Reform Act, was a California ballot proposition voted on in the 1988 California General Election. It passed with 51% of the vote on November 8, 1988. [1] Proposition 103 expanded the regulatory capacities of the California Department of Insurance, especially in property and casualty insurance.
Below is a list of state-accepted forms that qualify as proof of insurance. At least a state-minimum car insurance policy. A cash deposit of $35,000 to the DMV. DMV-issued certificate of self ...
Key takeaways. California drivers must at least meet the liability auto insurance coverage requirements of 15/30/5 to drive legally. You can be fined up to $500 out of pocket if you are convicted ...
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 act also prohibits employers from asking for more proof of partnership of domestic partners than they ask of spouses. [3] This Act should render insurance benefits payable to domestic partners more easily, without reference to inconsistent and confusing statutory and case law definitions of what constitutes a "dependent" under California law.
The California Insurance Code are the codified California laws regarding insurance.The code not only covers requirements for home, auto, medical and business insurance policies, but also covers the licensing of bail bond agents, workers' compensation, motor club services, and other related business types.
In September 2023, California Insurance Commissioner Ricardo Lara announced the Sustainable Insurance Strategy — the largest overhaul of the state’s insurance regulations since Prop 103 passed ...
Unemployment Insurance Code April 21, 1953 Stats. 1953, Ch. 308, pp. 1457–1553 ... federal and state case law, and the California Code of Regulations, in order to ...