CA SB1040

Authorizes the Insurance Commissioner to order restitution for losses arising from a respondent's violations of the Insurance Code, with restitution orders ancillary to other enforcement proceedings.

Allows the Commissioner to issue rescission orders enforceable on any person subject to the Commissioner's jurisdiction when facts and equity permit, as part of a restitution order.

Requires restitution orders to cite factual basis, identify persons who suffered losses, state the restitution amount, and be subject to judicial review in the same manner as the underlying enforcement order.

Permits the Commissioner, Attorney General, district attorney, city attorney, or any person owed restitution to judicially enforce restitution orders, with courts authorized to award attorney's fees and court costs to prevailing plaintiffs.

Exempts authorized insurers and persons holding licenses under specified insurance chapters from restitution orders; establishes that restitution must be satisfied before monetary penalties are credited and allows the Commissioner to recover implementation costs.