CA AB784

Allows nonadmitted insurers affiliated with California domestic insurers to operate in California without admission if all business is transacted through a licensed California surplus lines broker.

Permits nonadmitted insurers to receive administrative services from their California domestic affiliate or other affiliates, provided services do not relate to placement, transaction, or management of California risks.

Allows nonadmitted insurers and their California domestic affiliates to share common directors and officers if the nonadmitted insurer maintains a resident operating manager in its home state responsible for all transaction and management functions there.

Amends Section 703 to exempt surplus lines brokers and activities permitted under the new provisions from misdemeanor liability for acting as agents for nonadmitted insurers or aiding their insurance transactions.