California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 2 - Policy Forms and Other Documents › Article 6.8 - Credit Life and Credit Disability Insurance: Premium Rates › Section 2248.33 - Classes of Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
"Class of Business" means credit insurance providing
					 coverage within one of the following groupings:
Class A. Industrial Banks - credit insurance subject to
					 Financial Code §§
										18290-
					 18292;
					 California Finance Lenders - credit insurance subject to Financial Code
					 §§
										22314 and
					 22315.
					 ("Regulated loans.")
Class B. All business not otherwise classified.
Class C. Credit unions, subdivided by occupation group.
					 Where the members of a credit union are classifiable in more than one
					 occupation group, the credit union will be classified according to the grouping
					 applicable to at least 60% of its members. Where this is not possible, the
					 credit union shall be assigned to Occupation Group II.
Occupation Group I - Office Workers and Professionals. This
					 group includes, but is not limited to, credit unions comprised of office
					 workers and professionals employed by, or members of:
(1) Churches or religious
				  organizations;
(2)
				  Cooperatives;
(3) Communications
				  industry including radio, television and telephone;
(4) Educational institutions, associations or
				  services;
(5) Financial
				  institutions, associations or services;
(6) Fraternal and civic groups;
(7) Government office workers (federal, state
				  and local) excluding those related to police, fire protection, military service
				  or postal service;
(8) Legal
				  services;
(9) Medical institutions,
				  associations or services;
(10)
				  Labor unions associated with the respective occupation group served.
Occupation Group II - Light Industry, Security Services,
					 Postal Workers. This group includes, but is not limited to, credit unions
					 comprised of skilled and semi-skilled workers and professionals employed by, or
					 members of:
(1) Agriculture and
				  forestry industries;
(2) Airlines
				  which are regularly scheduled;
(3)
				  Apparel and garment industry;
(4)
				  Appliance manufacturing industry;
(5) Chemical and drug industry;
(6) Construction industry (excluding
				  unskilled laborers);
(7)
				  Entertainment and recreation industries;
(8) Fire protection organizations;
(9) Food processing industries including meat
				  packing, dairy, canning, beverage and grain;
(10) Government employees with inspection
				  duties;
(11) Military and police
				  services;
(12) Postal
				  workers;
(13) Printing
				  industry;
(14) Repair and
				  maintenance industries;
(15)
				  Tobacco industry;
(16) Labor unions
				  associated with the respective occupation group served.
Occupation Group III - Heavy Industry and Transportation.
					 This group includes all credit unions whose membership includes unskilled
					 laborers or which include employees of, or members of:
(1) Automobile, truck, farm implement and
				  equipment manufacturing industries;
(2) Leather and furniture products
				  industry;
(3) Lumber and paper mill
				  industry;
(4) Machinery
				  manufacturing industry;
(5) Metal
				  products, primary or fabricated, industry including foundries, container
				  manufacturers, casting and drop forges, etc.;
(6) Mining industry;
(7) Ordnance industry;
(8) Petroleum, rubber and plastic products
				  industries;
(9) Stone, clay and
				  gypsum products industries;
(10)
				  Transportation including nonscheduled airlines, bus, longshoreman, ocean and
				  inland waterways, railways, urban transit, teamsters but excluding regularly
				  scheduled airlines;
(11) Labor
				  unions affiliated with respective occupation group served.
Class D. Finance companies - installment sales finance;
					 Industrial Banks and California Finance Lenders - loans other than Class A or
					 Class E.
Class E. Banks and savings and loan associations - home
					 improvement loans, other loans secured by real estate, and mobile home loans;
					 mobile home dealers; home improvement contractors and dealers (including
					 swimming pool dealers); Industrial Banks and California Finance Lenders - loans
					 secured by real estate; land development companies - loans secured by real
					 estate; mortgage loan companies specializing in second trust deeds.
Class F. Banks and production credit associations -
					 agricultural and horticultural loans.
1. New
					 section filed 4-14-94; operative 5-16-94. Submitted to OAL for printing only
					 pursuant to Government Code section
					 11343(a)(1)
					 (Register 94, No. 15).
2. Amendment of section and NOTE filed
					 10-2-2001; operative 10-1-2001. Submitted to OAL for printing only pursuant to
					 Government Code section
					 11340.9(g)
					 (Register 2001, No. 40).
3. Editorial correction of second and
					 fourth paragraphs (Register 2001, No. 49).
Note: Authority cited: Sections
						779.21 and
						779.36,
						Insurance Code. Reference: Sections
						779.4,
						779.9 and
						779.36,
						Insurance Code; Sections
						18191,
						18290-
						18292,
						22314,
						22315 and
						22455,
						Financial Code; and Credit Insurance General Agents Association v. Payne,
						(1976) 16 Cal.3d 651.