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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.
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.
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.
California insurers will be required to sell coverage in wildfire-prone regions that have seen an insurer exodus in recent years, state Insurance Commissioner Ricardo Lara announced Monday. Under ...
An insurance broker will need the same information as any insurance professional, including info about the insurance products you need and your personal details.
When homeowners who need insurance can't get it from private insurance companies, they must purchase policies from the California Fair Access to Insurance Requirements (FAIR) Plan. Insurance ...
Agents generally cannot offer as broad a range of selection compared to an insurance broker. An independent insurance consultant advises insureds on a fee-for-service retainer, similar to an attorney, and thus offers completely independent advice, free of the financial conflict of interest of brokers or agents.
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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