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CA AB2301

Bill

Status

Passed

7/9/2012

Primary Sponsor

Steven Bradford

Click for details

Origin

State Assembly

2011-2012 Session

AI Summary

  • Amends the definition of "covered claims" under the California Insurance Guarantee Association (CIGA) to require claims be presented to the liquidator in the state of domicile of the insolvent insurer, rather than to the liquidator "in this state"

  • Clarifies the claims filing process for policyholders when their insurance company becomes insolvent, ensuring claims can be properly submitted to the appropriate liquidator regardless of where the insolvency proceedings occur

  • Maintains the existing requirement that claims must still be filed on or before the last date fixed for filing claims in the domiciliary liquidating proceedings

  • Makes a technical correction to align California's insurance guarantee association procedures with multi-state insolvency proceedings

Legislative Description

California Insurance Guarantee Association: definitions.

Last Action

Chaptered by Secretary of State - Chapter 57, Statutes of 2012.

7/9/2012

Committee Referrals

Insurance5/24/2012
Rules5/10/2012
Insurance3/29/2012

Full Bill Text

No bill text available