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CA AB2301
Bill
Status
7/9/2012
Primary Sponsor
Steven Bradford
Click for details
AI Summary
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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"
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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
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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
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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