Life and disability insurance.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Pending Referral
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill makes minor, technical adjustments to California’s Insurance Code, specifically regarding how life and disability insurance companies can rely on information provided by applicants. It clarifies that insurers are permitted to rely on statements about insurable interest, and that they are not liable for relying in good faith on those statements unless they contradict the policy terms. The changes are intended to be clarifying and do not alter any substantive insurance regulations.
Key provisions
- Clarifies the insurer’s right to rely on applicant statements regarding insurable interest.
- Reinforces the principle that insurers are not liable for relying in good faith on these statements.
- Makes technical amendments to Section 10110.2 of the Insurance Code.
Who is affected
- Life insurance companies
- Disability insurance companies
- Insurance applicants
Notable changes
- The bill introduces minor, technical revisions to existing insurance regulations.
Bill text
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Sponsors
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1 on record
Primary sponsor
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