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April 25, 2019 at 06:52 PM
Members of the California Insurance Committee voted 14-0 Wednesday to approve Assembly Bill 1591 — a bill that could increase the amount of information lawmakers receive from the state’s insurance commissioner.
AB 1591 would require the California insurance commissioner to inform members of key policy and fiscal committees of National Association of Insurance Commissioners (NAIC) activities at least every other year. The commissioner’s office would need to identify laws that could authorize future NAIC changes to take effect in California without additional legislative action.
“The purpose of this act is to ensure that the National Association of Insurance Commissioners (NAIC) and the National Council of Insurance Legislators (NCOIL) are properly supported so insurance public policymakers are kept informed concerning issues that are dependent on legislative authority,” according to the bill text.
(Related: Dan Morrish to Lead State Insurance Legislator Group)
The current California insurance commissioner is Ricardo Lara.
AB 1591 was introduced in February by Assemblyman Ken Cooley, D-Rancho Cordova, Calif.
Cooley wants AB 1591 to help California’s state legislature play a more active role in oversight of the creation of model insurance policies developed by interstate regulatory insurance organizations, by increasing legislators’ understanding of the process and strengthening their oversight, according to Assembly analysts.
