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CA SB743
Bill
AI Summary
- Amends Insurance Code Section 1871.2 to expand when insurers must display fraud warning statements on forms provided to applicants and policyholders
- Requires the warning statement on forms when a person applies for a policy, seeks to amend coverage, or furnishes information relating to underwriting criteria affecting premium or eligibility under an existing policy
- Warning statement must read: "Any person who knowingly presents false or fraudulent information to obtain or amend insurance coverage or to make a claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison"
- Statement must be preceded by "For your protection California law requires the following to appear on this form" or similar explanatory language and displayed with comparative prominence to other form content
- Excludes reinsurance contracts from these requirements
Legislative Description
Insurance: false and fraudulent claims.
Last Action
Chaptered by Secretary of State. Chapter 217, Statutes of 2023.
9/22/2023
Committee Referrals
Appropriations6/28/2023
Insurance5/11/2023
Appropriations4/12/2023
Insurance3/1/2023
Rules2/17/2023
Full Bill Text
No bill text available