CA AB1813

Requires property insurance cancellation and nonrenewal notices to include department contact information and a statement that policyholders may request department review of the cancellation, effective July 1, 2020.

Establishes internal audit function requirements for insurers with annual direct written and unaffiliated assumed premiums of $500 million or more (or $1 billion for insurance groups), with organizational independence and regular reporting to audit committees.

Extends indefinitely the credit allowed for domestic insurers that cede reinsurance to commissioner-certified reinsurers, previously set to expire January 1, 2021.

Clarifies internet disclosure requirements for insurance agents and brokers, requiring identification information on website home pages or prominent links and defining when transacting insurance in California to include soliciting residents and entering negotiations.

Updates nonadmitted insurer notices to include department and National Association of Insurance Commissioners contact information and websites, and revises the required statement for modified earthquake insurance renewal offers effective July 1, 2020.