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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.
But, it retains state regulatory jurisdiction regarding: (1) consumer protection and market conduct, and (2) state disciplinary authority. [5] The bill would require the NARAB to: (1) receive and investigate consumer complaints, maintaining a toll-free telephone number; and (2) refer any such complaint to the state insurance regulator. [5]
NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. The NAIC is an Internal Revenue Code Section 501(c)(3) non-profit organization.
Gov. Gavin Newsom is proposing a bill that would require the state Department of Insurance to review rate-hike requests from home insurers within 60 days as companies pull back from the market due ...
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Answers public questions and complaints regarding the insurance industry. Enforces the laws of the California Insurance Code and adopts regulations to implement the laws. The mission is to ensure vibrant markets where insurers keep their promises and the health and economic security of individuals, families, and businesses are protected.
The catch-22 associated with health insurance — even with subsidies — is that the low-cost plans that most people can afford come with outrageously high deductibles, leaving the policyholder ...
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.