Legislative Update - Senate Insurance Committee

 

The Senate Insurance Committee heard and passed the following bills this past Wednesday:

AB 315 (Solorio): This bill would conform California law applicable to surplus line insurance to mandatory changes included in the federal Nonadmitted and Reinsurance Reform Act provisions of last year's

AB 315 passed the committee with a vote of 9-0.

AB 690 (Solorio): This bill would revise and recast the laws governing the sale of insurance in connection with portable electronic devices and their accessories and associated services. 

AB 690 passed the committee with a vote of 9-0.

AB 793 (Eng):This bill would prohibit an insurance broker or agent from participating in or employing any party that participates in the origination of a reverse mortgage, except as specified.

AB 793 passed the committee with a vote of 9-0.

AB 1263 (Williams): This bill would extend current post-employment lobbying restrictions for the State Compensation Insurance Fund Board Members and Exempt employees from 1 year to two years and require board approval of consulting contracts with former board members of exempt employees.

AB 1263 passed the committee with a vote of 9-0.