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The following bills were acted upon this week. Click here to connect to links to view the legislation listed below.
AB 41 (Solorio): This bill would extend until January 1, 2015, the sunset date on the requirement that insurers report to the Insurance Commissioner information on their community development investments, and would require major California insurers to develop and file with the Insurance Commissioner a policy statement regarding community development investments.
AB 41 passed the Senate this week with a vote of 23-12. It previously passed the Assembly with a vote of 44-28. Concurrence in the Senate amendments is pending before it goes to the Governor.
AB 2746 (Blakeslee): This bill would authorize the California Earthquake Authority to contract for the services of a chief mitigation officer and describe the general duties of that officer.
AB 2746 passed the Senate this past week with a vote of 34-0. It previously passed the Assembly with a vote of 74-0. Concurrence in the Senate amendments is pending before it goes to the Governor.
SB 156 (Wright): This bill states legislative intent that a Department of Insurance Advisory Task Force on Fraud reported in 2008 that insurance fraud costs Californians 15 billion dollars per year, or an average of more than $500 dollars per resident per year. This bill would authorize the Insurance Commissioner to convene meetings with representatives of insurance companies to discuss specific information concerning suspected, anticipated, or completed acts of insurance fraud. This bill would specify that information shared during the course of those meetings regarding specific suspected, anticipated, or completed acts of insurance fraud, in the absence of fraud or malice, shall not make a person subject to civil liability for libel, slander, or any other relevant cause of action.
SB 156 passed the Assembly this week with a vote of 77-0. It was returned to the Senate for concurrence in the Assembly amendments and was approved 34-0. It now will go to the Governor for his signature.
SB 909 passed the Assembly this week with a vote of 73-1. The bill was then sent to the Senate for concurrence and was approved with a vote of 24-10. The bill now goes to the Governor for his signature.
SB 1407 (Committee on Banking, Finance & Insurance): This bill would authorize the State Compensation Insurance Fund to invest its "excess" funds in the same investments as domestic insurers, subject to exceptions.
SB 1408 passed the Senate with a vote of 30-0 and the Assembly with a vote of 78-0.