CA SB488

Requires admitted insurers with $100 million or more in California premiums to submit biennial reports starting July 1, 2018, detailing procurement efforts from minority, women, disabled veteran, veteran, and LGBT business enterprises.

Mandates insurers report procurements from qualifying enterprises with headquarters in California and those with majority workforce in California, aggregated by category.

Requires insurers to submit separate biennial reports on governing board composition and board diversity efforts, with voluntary participation by individual board members.

Establishes confidentiality protections for board diversity data, prohibiting release of information that could identify individual board members, while requiring public access to aggregated data on the Department of Insurance website.

Authorizes the Insurance Commissioner to issue emergency data calls on specified insurance subjects (contract obligations, consumer behavior, underwriting practices, claimant characteristics) and requires other data calls to follow standard administrative procedure or specific statutory authorization, limited to California activity.

Extends operation of these provisions until January 1, 2025.