CA AB1425

Repeals the requirement for the Insurance Commissioner to report to the Legislature by June 30, 2004, on the effectiveness of credit insurance agent regulations.

Revises the Commissioner's rulemaking authority for life settlements to allow adoption of rules and regulations reasonably necessary to implement life settlement provisions, replacing previous emergency regulation authority.

Repeals the Commissioner's authority to adopt emergency regulations for the low-cost automobile insurance program that bypass the Office of Administrative Law review process.

Allows workers' compensation insurers to disclose non-pro rata premium refund provisions and cancellation fees in the quote offered to consumers prior to acceptance, instead of requiring disclosure before or with the application.

Applies disclosure requirements for non-pro rata premium refunds prospectively to policies issued or renewed on or after January 1, 2012.