reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 2 - Policy Forms and Other Documents › Article 11 - Standards for Health History Questionnaires in Health Insurance Applications, Pre-Issuance Medical Underwriting and Rescission of Health Insurance Policies › Section 2274.73 - Standards for Health History Questions on an Application for Health Insurance Coverage

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Inquiries into an applicant's health history shall hold applicants to the
				  reasonable layperson standard. Whenever possible, information from a PHR shall
				  be requested and, if available, relied upon during medical underwriting in
				  addition to self-reported information on health history
				  questionnaires.
(b) All questions
				  designed to ascertain the health condition or history of an applicant shall be
				  limited to eliciting only medical information that is reasonable and necessary
				  for medical underwriting.
(c)
				  Medical information that is reasonable and necessary for medical underwriting
				  means only such information that is essential to an insurer's calculation of
				  prospective risk of the coverage being requested.
(d) Questions on an application for health
				  insurance coverage shall:
(1) Be clear,
				  specific, unambiguous and written to be understood by a reasonable
				  layperson.
(2) Clearly state the
				  period of time covered by the question. Specified time periods for each
				  question shall be as short as possible to make a reasonable underwriting
				  determination and must be limited to time periods required by sound actuarial
				  underwriting standards used by the insurer.
(3) Be phrased to elicit information about
				  diagnoses, treatments and recent consultations with health care providers known
				  to the applicant.
(4) Provide each
				  applicant with the opportunity to indicate whether he or she is unsure of the
				  answer, does not know how to respond to any individual health history question,
				  or does not understand the question. Health history questions shall offer
				  response choices in addition to YES or NO, such as Not Sure.
(5) Offer the applicant an opportunity to
				  indicate the applicant's inability to recall or remember the information
				  requested. To the extent that such response choices impede the insurer's
				  ability to apply its medical underwriting guidelines, the insurer shall pursue
				  alternative methods of obtaining such information, including but not limited to
				  telephone interviews, medical records or other sources of
				  information.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 2 - Policy Forms and Other Documents › Article 11 - Standards for Health History Questionnaires in Health Insurance Applications, Pre-Issuance Medical Underwriting and Rescission of Health Insurance Policies › Section 2274.74 - Standards for Avoiding Prohibited Postclaims Underwriting. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 7-19-2010; operative 8-18-2010 (Register 2010, No.
					 30).
2. Change without regulatory effect amending NOTE filed
					 9-23-2010 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2010, No. 39).
3. Change without regulatory
					 effect pursuant to section
					 100(a)(3), title
					 1, California Code of Regulations, repealing section
					 2274.74 following final court
					 judgment holding section invalid in Association of California Life & Health
					 Insurance Companies v. California Department of Insurance, et al., Sacramento
					 County Superior Court Case No. 34-2010-80000637, filed 5-31-2011 (Register
					 2011, No. 22).
Note: Authority cited: Sections
						790.10,
						10119.3,
						10291.5,
						10384,
						12921 and
						12926,
						Insurance Code; CalFarm Ins. Co. v. Deukmejian, 48 Cal.3d 805 (1989); and 20th
						Century Ins. Co. v. Garamendi, 8 Cal. 4th 216 (1994). Reference: Sections
						106,
						380,
						730,
						733,
						734,
						790.03,
						796.04,
						10113,
						10119.3,
						10291.5,
						10380 and
						10381.5,
						10384,
						Insurance Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 2 - Policy Forms and Other Documents › Article 11 - Standards for Health History Questionnaires in Health Insurance Applications, Pre-Issuance Medical Underwriting and Rescission of Health Insurance Policies › Section 2274.75 - Documentation Requirements and Examination by Commissioner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) In order to complete medical underwriting
				  and resolve all reasonable questions arising from written information submitted
				  on or with an application pursuant to Insurance Code section
				  10384, the
				  insurer shall document the following in writing and such documentation shall be
				  subject to examination by the Commissioner pursuant to Sections
				  730,
				  733,
				  734,
				  790.04,
				  791.14,
				  12921.1,
				  12924 and
				  12926 of
				  the Insurance Code and Title 10, Chapter 5, Section
				  2695.3 California Code of
				  Regulations:
(1) The insurer's completion of
				  medical underwriting;
(2) The
				  insurer's identification and resolution of all reasonable questions arising
				  from written information submitted on or with the application for health
				  insurance coverage;
(3) The
				  insurer's attempts to verify the accuracy and completeness of the
				  application;
(4) All communications
				  relating to the processes described in this article, including communications
				  to and from the insured;
(5) All
				  communications with the agent assisting the applicant regarding any aspect of
				  (1) the application, (2) the submission of the application or any supplemental
				  information to the insurer, or (3) the underwriting of the policy based on
				  information in the application;
(6)
				  All communications referred to in these regulations shall include electronic
				  records as defined in Civil Code Section
				  1633.2(g).
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 2 - Policy Forms and Other Documents › Article 11 - Standards for Health History Questionnaires in Health Insurance Applications, Pre-Issuance Medical Underwriting and Rescission of Health Insurance Policies › Section 2274.76 - Agent Attestation and Notification Requirements when Health Insurance Applications Are Submitted to Insurers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Any agent, as defined in Section
				  1622 or
				  1626 of the
				  Insurance Code assisting an applicant in submitting an application for health
				  insurance as that phrase is defined in Subdivision (c) of this Section
				  2274.76 shall notify the insurer
				  that the agent has provided such assistance.
(b) For purposes of Insurance Code Section
				  10119.3, an
				  application includes an application for health insurance submitted
				  electronically using an Internet web site provided by the insurer or any other
				  Internet web site, such as an agent's or broker's web site, which is intended
				  to be used for submission of health insurance applications to
				  insurers.
(c) For purposes of
				  Insurance Code section
				  10119.3,
				  assisting an applicant in submitting an application for health insurance to a
				  health insurer includes:
(1) providing
				  information or advice or answering the applicant's questions about any aspect
				  of the application or its submission
(2) providing information or advice or
				  answering the applicant's questions about the medical underwriting of the
				  application
(3) providing
				  information or advice or answering any of the applicant's questions about the
				  health insurance coverage sought by the applicant or
(4) entering information directly into or
				  onto the application.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 2 - Policy Forms and Other Documents › Article 11 - Standards for Health History Questionnaires in Health Insurance Applications, Pre-Issuance Medical Underwriting and Rescission of Health Insurance Policies › Section 2274.77 - Return of Completed Application for Health Insurance Coverage at Time of Policy Transmission; Notice and Communication Requirements. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 7-19-2010; operative 8-18-2010 (Register 2010, No.
					 30).
2. Change without regulatory effect amending NOTE filed
					 9-23-2010 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2010, No. 39).
3. Change without regulatory
					 effect pursuant to section
					 100(a)(3), title
					 1, California Code of Regulations, repealing section
					 2274.77 following final court
					 judgment holding section invalid in Association of California Life & Health
					 Insurance Companies v. California Department of Insurance, et al., Sacramento
					 County Superior Court Case No. 34-2010-80000637, filed 5-31-2011 (Register
					 2011, No. 22).
Note: Authority cited: Sections
						790.10,
						10291.5,
						10384,
						12921 and
						12926,
						Insurance Code; CalFarm Ins. Co. v. Deukmejian, 48 Cal.3d 805 (1989); and 20th
						Century Ins. Co. v. Garamendi, 8 Cal. 4th 216 (1994). Reference: Sections
						106,
						380,
						730,
						733,
						734,
						790.03,
						796.04,
						10113,
						10291.5,
						10380,
						10381.5 and
						10384,
						Insurance Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1 - Admission Requirements › Section 2275 - General Consideration: Operating Record and Financial Condition: Minimum Capital Does Not Guarantee Admission

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The commissioner will, in considering an applicant insurer
					 for admission to transact business in California, determine each case largely
					 upon its individual merits as to operating record and financial condition, and
					 a reasonable surplus sufficient to meet all ordinary contingencies will be
					 required in every case in addition to the minimum capital requirements
					 specified in the statutes. The applicant must establish that its financial
					 condition is such that the policyholders and creditors with which it will deal
					 will be reasonably safe. Compliance with the minimum capital requirements does
					 not guarantee admission. Each application for admission is determined after a
					 consideration of all of the qualifications of the applicant.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1 - Admission Requirements › Section 2276 - When Examination Required

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The examination permitted by Section
					 731 of the
					 Insurance Code of the business and affairs of foreign insurers applying for
					 admission in the State of California will be required in the case of all
					 foreign insurers seeking admission, who do not meet all of the following
					 requirements:
(a) Such insurer has
				  transacted insurance business under the same corporate name and management for
				  at least five years immediately preceding the date of its application for
				  admission to the State of California.
(b) Such insurer is, and for at least five
				  years immediately preceding the date of its application for admission to the
				  State of California, has been, authorized to transact an insurance business in
				  not less than five states.
(c) Such
				  insurer, through its duly authorized officers who have full knowledge of the
				  facts, files a verified statement under oath that it has never been denied
				  admittance in any state and that its certificate of authority to transact
				  business in any state has never been revoked or suspended.
(d) Such insurer has been officially examined
				  by the insurance commissioner or similar official of its home state as of a
				  date not more than two years preceding the date of its application for
				  admission to California.
(e) Such
				  insurer, in addition to all other papers required to be filed, files with this
				  department a certified copy of the last report of such examination.
(f) Such insurer has a cash capital of not
				  less than $500,000 and a surplus over all liabilities of not less than
				  $250,000.
The foregoing regulation is not to be construed as waiving
					 the statutory right of the Insurance Commissioner to make or cause to be made
					 such examination in the case of any such foreign insurer who meets all of the
					 foregoing requirements.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1 - Admission Requirements › Section 2277 - Compliance with Requirements of Secretary of State

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The applicant insurer shall notify the commissioner of its
					 transmission to the Secretary of State at Sacramento of its articles of
					 incorporation and all amendments thereto, designation of representative for
					 process and the payment of fees required therefor. The commissioner will not
					 issue a certificate of authority until these requirements have been
					 met.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.1 - Holocaust Era Insurance Registry [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Note: The Department of Insurance had been enjoined from
					 enforcing the regulations in this article. The Office of Administrative Law
					 approved the readoption of these emergency regulations, initially adopted on
					 1-13-2000 and refiled on 2-8-2000, 5-30-2000, 9-20-2000, 1-16-2001, 5-11-2001,
					 9-4-2001, 1-2-2002, 5-1-2002, 8-28-2002, 12-26-2002, 4-24-2002 and 8-25-2003,
					 pursuant to subdivision (h) of Government Code section
					 11346.1 in
					 order to maintain the status quo pending the outcome of the litigation. The
					 litigation has been resolved in favor of the parties seeking the injunction and
					 the regulations have been repealed 9-9-2003 pursuant to section
					 100, title 1, California Code of
					 Regulations. For prior history of article 1.1, sections
					 2278-2278.5, see Register 2003,
					 No. 35.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.3 - Standards for Approval of Insurer Names › Section 2278.50 - Applicability

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) These
				  regulations apply to written applications for the use of a name by any of the
				  following:
(1) a domestic insurer ("domestic"
				  is defined in Insurance Code Section
				  26);
(2) a foreign insurer ("foreign" is defined
				  in Insurance Code Section
				  27);
(3) an alien insurer (as defined in Insurance
				  Code Section
				  1580);
(4) a reciprocal or interinsurance exchange
				  (as defined in Insurance Code Section
				  1303);
(5) a motor club (as defined in Insurance
				  Code Section
				  12142);
(6) an underwritten title company (as defined
				  in Insurance Code Section
				  12340.5);
(7) a home protection company (as defined in
				  Insurance Code Section
				  12740);
(8) a fraternal benefit society (as defined
				  in Insurance Code Section
				  10990);
(9) two or more insurers proposing to issue
				  an underwriter's policy as to the name or title of such policy (as specified in
				  Insurance Code Section
				  882);
(10) a multiple employer welfare arrangement
				  (as defined in Insurance Code Section
				  742.21);
(11) an attorney-in-fact of a reciprocal or
				  interinsurance exchange, or an agent or other representative duly authorized
				  and acting under a power of attorney for subscribers of a reciprocal or
				  interinsurance exchange.
(12) any
				  other entity for which approval of a name is required by the Insurance Code,
				  other than an entity or person subject to Insurance Code Section
				  1724.5.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.3 - Standards for Approval of Insurer Names › Section 2278.51 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The term
				  "Licensee" refers to any type of entity specified in Section
				  2278.50 of this Article,
				  regardless of the entity's form of organization, authorized by the Commissioner
				  to transact insurance or other business in California.
(b) The term "Applicant" means any person
				  seeking approval for the use of a name in accordance with these regulations,
				  whether such person is proposed to be formed, in formation, or in
				  existence.
(c) The term "Affiliate"
				  means a person who directly or indirectly, through one or more intermediaries,
				  controls, is controlled by, or is under common control with another person.
				  Insurers that are within an insurance holding company system are
				  Affiliates.
1. New
					 section filed 10-11-2010; operative 11-10-2010 (Register 2010, No.
					 42).
Note: Authority cited: Sections
						700,
						720 and
						790.10,
						Insurance Code; CalFarm Ins. Co. v. Deukmejian, (1989) 48 Cal.3d 805; and 20th
						Century Ins. Co. v. Garamendi, (1994) 8 Cal. 4th 216. Reference: Sections
						742.42,
						790.02,
						790.03,
						880,
						881,
						881.1,
						881.2,
						881.5,
						882,
						882.5,
						883,
						10970,
						12162,
						12389 and
						12743,
						Insurance Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.3 - Standards for Approval of Insurer Names › Section 2278.53 - Prohibited Words or Phrases

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An application for approval of a name may
				  not contain the following words or phrases, either singular or plural, or a
				  derivation of one or more of such words or phrases:
(1) Federal;
(2) United States, U.S., or U.S.A.;
(3) reserve;
(4) Deposit Insurance;
(5) Federal Deposit;
(6) Olympic;
(7) Olympia;
(8) bank;
(9) savings association;
(10) savings;
(11) savings bank, unless (A) the remaining
				  words in the name clearly demonstrate that the applicant will conduct insurance
				  business and not a savings bank business and (B) a "no objection letter" issued
				  by the California Department of Financial Institutions is provided to the
				  Commissioner;
(12) savings and loan
				  association;
(13) building and loan
				  association;
(14) building
				  association;
(15) trust, unless the
				  Applicant is a Multiple Employer Welfare Association;
(16) trustee;
(17) agent;
(18) agency;
(19) society, unless the Applicant is
				  organized, or proposes to be organized as a fraternal benefit society, pursuant
				  to Insurance Code Sections
				  10970
et seq
.;
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.3 - Standards for Approval of Insurer Names › Section 2278.54 - Required Words or Phrases

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  A proposed name for an Applicant that is, or will be, an insurer must include
				  one of the following words: "Assurance," "Casualty," "Indemnity," or
				  "Insurance."
(b) A proposed name
				  for an Applicant that is, or will be, admitted to write life insurance must
				  include the word "Life."
(c) A
				  proposed name for an Applicant that is, or will be, organized as a stock
				  company must indicate that the Applicant is a stock company. The name may use
				  the word "Company" for this purpose.
(d) A proposed name for an Applicant that is,
				  or will be, organized as a mutual insurance company must include the word
				  "Mutual."
(e) A proposed name for
				  an Applicant that is organized as a reciprocal insurer or an interinsurance
				  exchange, must include the words "Interinsurance Exchange, "Exchange," or
				  "Reciprocal."
(f) A proposed name
				  for an Applicant that is, or will be, an underwritten title company or title
				  insurer must include the word "Title."
(g) A proposed name for an Applicant that
				  writes, or will write, mortgage insurance or mortgage guaranty insurance must
				  include the words "mortgage" or "mortgage guaranty," as applicable.
(h) A proposed name of an Applicant that is,
				  or will be, a motor club must include the word "Club" and the words "Motor,"
				  "Auto," or "Automobile."
(i) A
				  proposed name for an Applicant that is the United States branch of an alien
				  insurer must include the words "United States Branch" or "U.S.
				  Branch."
(j) A proposed name for an
				  Applicant that is a Multiple Employer Welfare Association must include the word
				  "Trust."
1. New
					 section filed 10-11-2010; operative 11-10-2010 (Register 2010, No.
					 42).
Note: Authority cited: Sections
						700,
						720 and
						790.10,
						Insurance Code; CalFarm Ins. Co. v. Deukmejian, (1989) 48 Cal.3d 805; and 20th
						Century Ins. Co. v. Garamendi, (1994) 8 Cal. 4th 216. Reference: Sections
						742.42,
						790.02,
						790.03,
						880,
						881,
						881.1,
						881.2,
						881.5,
						882,
						882.5,
						883,
						10970,
						12162,
						12389 and
						12743,
						Insurance Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.3 - Standards for Approval of Insurer Names › Section 2278.55 - Names Which Are an Interference with or Are Too Similar to Names or Which Are Likely to Mislead the Public

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For the purpose of this Section, the meaning of the word
					 "name" includes a name that has been reserved pursuant to Insurance Code
					 Section
					 881 and
					 includes a proposed name for which an application is pending before the
					 Commissioner.
(a) A name is too
				  similar to or is an interference with the name of a business, other entity or
				  Licensee if:
(1) the first two words,
				  initials or numbers of the proposed name are identical to the first two words,
				  initials or numbers of the name of a business, entity or Licensee, other than
				  an Affiliate.
(2) it contains words
				  or phrases used in the name of another Licensee, other than an Affiliate, that
				  are not general words or phrases or are not commonly used in the names of
				  Licensees.
(3) it contains a coined
				  word (i.e., a word that is made up) that is part of the name of a business,
				  entity, or Licensee, other than an Affiliate.
(4) it is so similar in words, usage, word
				  order, spelling, pronunciation, or appearance to the name, logo, symbol,
				  trademark, trade name, or service mark of a well-known business or entity
				  (other than an Affiliate) or Licensee (other than an Affiliate) as to borrow on
				  the name of, or imply affiliation with, or create a likelihood of confusion
				  with the name of such business, entity or Licensee. The foregoing applies
				  regardless whether the business or entity is licensed or regulated by the
				  Insurance Commissioner or is otherwise identified with the insurance
				  industry.
(5) it is identical in
				  words, regardless of order, to the name of a Licensee (including an
				  Affiliate).
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.3 - Standards for Approval of Insurer Names › Section 2278.56 - Use of Names Similar to Affiliate's Name

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Notwithstanding Subdivision (a) of Section
					 2278.55, a proposed name will not
					 be considered to be an interference with or too similar to the name of an
					 Affiliate if use of the proposed name is not likely to mislead the public, and
					 if the following are provided to the Commissioner:
(a) a legally binding written consent from
				  each affected Affiliate which states that the Affiliate does not object to use
				  of the proposed name in California by the Applicant, and which states that the
				  written consent is irrevocable and unconditional. The written consent shall be
				  signed by each Affiliate's chairman, president or any vice president, and shall
				  be signed by each Affiliate's corporate secretary, an assistant secretary,
				  chief financial officer, or assistant treasurer; and
(b) a legally binding written commitment from
				  an officer of the Applicant and a legally binding written commitment from an
				  officer of each affected Affiliate that neither the Applicant nor the Affiliate
				  shall use any confusion about their names as a defense in any legal or other
				  proceeding to avoid a claim which is against the Applicant or any affected
				  Affiliate. The written commitment shall state that it is irrevocable and
				  unconditional. The written commitment shall be signed by the Applicant's and
				  each Affiliate's chairman, president or any vice president, and shall be signed
				  by the Applicant's and each Affiliate's corporate secretary, an assistant
				  secretary, chief financial officer, or assistant treasurer.
1. New
					 section filed 10-11-2010; operative 11-10-2010 (Register 2010, No.
					 42).
Note: Authority cited: Sections
						700,
						720 and
						790.10,
						Insurance Code; CalFarm Ins. Co. v. Deukmejian, (1989) 48 Cal.3d 805; and 20th
						Century Ins. Co. v. Garamendi, (1994) 8 Cal. 4th 216. Reference: Sections
						742.42,
						790.2,
						790.03,
						880,
						881,
						881.1,
						881.5,
						882,
						882.5,
						883,
						10970,
						12162,
						12389 and
						12743,
						Insurance Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.3 - Standards for Approval of Insurer Names › Section 2278.57 - Operating Names

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Except for filings made with the Commissioner, and except
					 as required by Insurance Code section
					 702, a
					 Licensee that is a foreign or alien insurer or other entity that conducts
					 business in California under an operating name that has been approved by the
					 Commissioner pursuant to Insurance Code section
					 881 shall
					 conduct business in California using only its approved operating name and not
					 its true name. The foregoing includes, but is not limited to, the name used in
					 connection with the following:
(a)
				  insurance policies;
(b)
				  endorsements to insurance policies;
(c) assumption certificates;
(d) advertising materials;
(e) brochures, sales literature, information
				  materials;
(f) information provided
				  or made available to the public;
(g) stock sales announcements, circulars,
				  prospectuses, and related advertisements and literature;
(h) correspondence (including electronic
				  mail);
(i) telephone
				  communications.
1. New
					 section filed 10-11-2010; operative 11-10-2010 (Register 2010, No.
					 42).
Note: Authority cited: Sections
						700,
						720 and
						790.10,
						Insurance Code; CalFarm Ins. Co. v. Deukmejian, (1989) 48 Cal.3d 805; and 20th
						Century Ins. Co. v. Garamendi, (1994) 8 Cal. 4th 216. Reference: Sections
						742.42,
						790.02,
						790.03,
						880,
						881,
						881.1,
						881.2,
						881.5,
						882,
						882.5,
						883,
						10970,
						12162,
						12389 and
						12743,
						Insurance Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 1.3 - Standards for Approval of Insurer Names › Section 2278.58 - Commissioner's Discretion

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  The Commissioner may waive strict compliance with the requirements of this
				  Article if the Commissioner determines, in the Commissioner's discretion, that
				  a proposed name will not constitute or create an interference with or be too
				  similar to the name of a business or entity (including a name that has been
				  reserved pursuant to Insurance Code Section
				  881 and a
				  proposed name for which an application is pending before the Commissioner), or
				  when a proposed name is not likely to mislead the public in any
				  respect.
(b) The discretion of the
				  Commissioner in approving and disapproving names is not exhausted by these
				  regulations.
1. New
					 section filed 10-11-2010; operative 11-10-2010 (Register 2010, No.
					 42).
2. Change without regulatory effect amending subsection (a)
					 filed 7-14-2021 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2021, No. 29). Filing deadline specified in Government
					 Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order
					 N-40-20.
Note: Authority cited: Sections
						700,
						720 and
						790.10,
						Insurance Code; CalFarm Ins. Co. v. Deukmejian, (1989) 48 Cal.3d 805; and 20th
						Century Ins. Co. v. Garamendi, (1994) 8 Cal. 4th 216. Reference: Sections
						742.42,
						790.02,
						790.03,
						880,
						881,
						881.1,
						881.2,
						881.5,
						882,
						882.5,
						883,
						10970,
						12162,
						12389 and
						12743,
						Insurance Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2279 - Rules and Regulations for Valuation of Securities-General

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The rules and regulations for the valuation of securities
					 set forth in this article are adopted and promulgated as a necessary part of,
					 and as instructions for the proper and uniform preparation and filing of
					 financial statements and reports required by the California Insurance Code and
					 the Insurance Commissioner, on a uniform basis according to kinds of insurance
					 business transacted, to insurers to elicit from them a true exhibit of their
					 financial condition, and to make certain and uniform, and to give advance
					 notice as to the manner in which the Insurance Commissioner will initially
					 exercise the discretion given to the Commissioner by Sections
					 1250 to
					 1253, inclusive, 1430, 11131 and
					 12921 of the California Insurance Code relative to valuation of securities
					 reported by insurers in financial statements filed with the Commissioner and
					 relative to the forms of financial statement and the valuation of securities
					 reported therein required to be filed with the Commissioner by insurers,
					 including Reciprocal Insurers and Fraternal Insurers. The duties and discretion
					 of the Insurance Commissioner conferred on the Commissioner by laws as to the
					 proper valuation of securities and properties held by insurers cannot be, and
					 are not exhausted by these rules and regulations.
1. Amendment
					 filed 2-4-71 as an emergency; effective upon filing (Register 71, No. 6). For
					 prior history, see Register 69, No. 13.
2. Certificate of
					 Compliance-See. 11422.1, Government Code, filed 3-12-71 (Register 71, No.
					 11).
3. Change without regulatory effect amending section filed
					 7-14-2021 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2021, No. 29). Filing deadline specified in Government
					 Code section
					 11349.3(a)
					 extended 60 calendar days pursuant to Executive Order
					 N-40-20.
Note: Authority cited: Sections
						923,
						1250 to
						1253, inclusive, 1430, 11131 and
						12921, Insurance Code.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2280 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The term
				  "association value" of a particular security as used in this article means the
				  value of such security as established, promulgated, and recommended for use by
				  the Committee on Valuation of Securities of the National Association of
				  Insurance Commissioners, 60 Wall Street, New York, N.Y. 10005.
(b) Except where the context provides to the
				  contrary, the words "financial statements" as herein below used in this article
				  mean the financial statements and reports required of any insurer admitted to
				  do business in the State of California, for the purpose of exhibiting the
				  company's condition and affairs which the statements and reports are or may be
				  required to be filed with the Insurance Commissioner of the State of
				  California.
(c) The term
				  "subsidiary company" shall mean a corporation more than 50% of the outstanding
				  capital stock of which is owned or controlled, directly or indirectly, by the
				  reporting insurer or by a corporation affiliated with the reporting
				  corporation, or by any or all of these.
1. Amendment
					 filed 2-4-71 as an emergency; effective upon filing (Register 71, No. 6). For
					 prior history, see Register 70, No. 27.
2. Certificate of
					 Compliance-Sec.
					 11422.1, Government Code, filed
					 3-12-71 (Register 71, No. 11).
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2281 - Valuations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The Insurance
				  Commissioner will require that in the annual statement to be filed as required
				  by the provisions of the Insurance Code, all securities and properties be
				  valued as herein-after prescribed or permitted.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2282 - Bonds and Stocks

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) It
				  is the intention of the Insurance Commissioner to accept on a prima facie basis
				  for purposes of valuation of bonds and stocks, the "association value" subject
				  to any limitations imposed by the Insurance Code of the State of California,
				  provided that:
(1) A stock, bond or other
				  evidence of debt if in default as to principal or interest or if not amply
				  secured, shall not be valued as an asset of the insurer above its market
				  value.
(2) The amortized values of
				  amortizable bonds received under reorganization or capital readjustments may,
				  with the approval of the Commissioner, continue at the time of such
				  reorganization or capital readjustments to be based on the previously existing
				  amortized cost, rather than current market value.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2283 - Mortgages: General Rules Relating to Mortgages Purchased at a Premium or at a Discount and Which Are Not More than Three Months in Default

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Notes secured by mortgage or deed of trust on real property
					 which are not more than three months in arrears of either principal or
					 interest, and on the property securing which no taxes, assessments or other
					 charges constituting liens are in arrears or have been advanced by the
					 reporting insurer or an affiliate thereof, shall be valued at amounts equal to
					 the unpaid principal of such notes (but not in excess of the amount permitted
					 by law to be loaned on or invested in such notes) with the following
					 exceptions:
(a) FHA and VA Mortgages.
				  Premiums may be amortized and discounts accrued on FHA and VA mortgages over a
				  five-year period from date of acquisition. Companies may adjust the asset
				  values of these mortgages to the face amounts thereof, but any excess of
				  aggregate value over aggregate permissive amortized value (cost of mortgages
				  less repayments of principal, adjusted for amortization of premiums and accrual
				  of discounts on a five-year basis) shall be treated as a "not admitted
				  asset."
(b) Mortgages (Insured or
				  Guaranteed by the Federal Housing Administration or the Veterans
				  Administration) Received in Exchange for 2 3/4% Treasury Bonds, Investment
				  Series "B"--1975-1980, Nontransferable. Acquisition cost to insurers shall be
				  equal to the amortized value of the bonds surrendered in the exchange at the
				  date of exchange, provided, however, that in no event shall such acquisition
				  cost exceed the principal amount owing upon the mortgage at the time of
				  acquisition by the insurer.
(c)
				  Mortgages (Other Than FHA and VA Mortgages). The book value of real estate
				  mortgages acquired at a premium may be reported at values reflecting write-offs
				  of such premiums over a three-year period from date of acquisition. Real estate
				  mortgages purchased at a discount should be carried at cost.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2284 - Notes in Arrears More than Three Months

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
All notes secured by mortgage or deed of trust on real
					 property, which are in arrears more than three months of either principal or
					 interest, or on the property securing which any taxes, assessments or other
					 charges constituting liens are in arrears or have been advanced by the
					 reporting insurer or an affiliate thereof, shall be valued at amounts not in
					 excess of the lowest of the following:
(a) 90% of the reasonable value on December
				  31 of the property securing such several notes, except in the case of
				  government guaranteed or insured obligations.
(b) The unpaid principal of such several
				  notes without addition of interest in arrears or accrued and without addition
				  of advances made.
(c) The amount
				  permitted by law to be loaned on, or invested in, such several notes.
Advances made on such notes must not be listed elsewhere as
					 assets unless also deducted as "Assets Not Admitted." Interest on such notes
					 which are in arrears shall not, unless also deducted under "Assets Not
					 Admitted," be listed elsewhere as an asset in excess of the amount permitted by
					 the valuation requirements of the Department of Insurance of the reporting
					 insurer's state of domicile, nor in excess of interest in arrears one
					 year.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2285 - Collateral Loans: Basis of Valuation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Notes secured by collateral other than real property shall
					 be valued at amounts determined for each such note and each security pledged
					 therefor, not exceeding 85% of the value of such security pledged, determined
					 in accordance with the rules herein, applicable to securities or property
					 owned, nor exceeding in the aggregate in the case of any such secured note, the
					 amount of unpaid principal thereof; but no value shall be claimed or will be
					 allow d for shares of stock of the reporting insurer's own issue pledged as
					 such security.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2286 - Real Estate: Property Used in Business

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Real property requisite for the accommodation of the
					 reporting insurer in the transaction of its business shall not be valued in
					 excess of the cost thereof plus the cost of capitalized improvements, less
					 normal depreciation.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2287 - Other Real Property

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
All other real property not under contract of sale shall be
					 valued as follows:
(a) Real property
				  acquired by foreclosure or in the satisfaction of debt shall be valued at an
				  amount not to exceed the smaller of the following: Cost plus the cost of
				  capitalized improvements, less normal depreciation, or market value as
				  evidenced by a current appraisal by a competent and qualified
				  appraiser.
(b) Real property
				  acquired for investment purposes shall be valued at an amount not to exceed the
				  smaller of the following: Cost plus the cost of capitalized improvements, less
				  normal depreciation, or market value as evidenced by a current appraisal by a
				  competent and qualified appraiser.
1. Amendment
					 filed 6-13-68; effective thirtieth day thereafter (Register 68, No.
					 22).
2. Amendment filed 2-7-69 as an emergency; designated effective
					 2-7-69 (Register 69, No. 6).
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2288 - Appraisal: When Required

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The appraisal of real estate may be made, if and when, on
					 the basis of net earnings, it is indicated that property may be worth
					 substantially less than cost plus the cost of capitalized improvements, less
					 normal depreciation. In determining such net income, a rental charge or
					 estimate by the owner for its own occupancy of all or part of such real
					 property shall be limited to a reasonable amount with due regard to what a
					 willing tenant other than the owner would pay in a free
					 market.
1. Amendment
					 filed 6-13-68; effective thirtieth day thereafter (Register 68, No.
					 22).
2. Amendment filed 2-7-69 as an emergency; designated effective
					 2-7-69 (Register 69, No. 6).
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2289 - Property Under Contract of Sale

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Real property under contract of sale shall be valued at an
					 amount not in excess of the lowest of the following:
(a) The reasonable value thereof on December
				  31.
(b) The cost of acquisition,
				  increased by so much of the book profit if any, involved in the sale price, as
				  will bear to the total book profit the same proportion that payments received
				  on account of the sale price bear to the total sale price.
(c) The unpaid principal of such several
				  contracts of sale without addition of interest in arrears or accrued and
				  without addition of advances made.
Advances made on such contracts must not be listed
					 elsewhere as assets unless deducted as "Assets Not Admitted." Interest on such
					 contracts which is in arrears shall not, unless also deducted under "Assets Not
					 Admitted," be listed elsewhere as an asset; provided, however, if the balance
					 due, including interest, under any contract of sale is less than 66 2/3% of the
					 value of the underlying real estate, then interest which is in arrears on any
					 contract may be admitted as an asset but not in excess of one year's
					 interest.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2290 - General: Basis of Valuation Must be Reported in Annual Statement

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The basis of valuation used for each of the classes of
					 securities and properties herein described must be clearly reported in the
					 annual statement, which must be accompanied by the declaration of the reporting
					 officer or officers of insurer, to the effect that, wherever "actual market
					 value" or "reasonable values," as the case may be, as herein required to be
					 reported, have been reported, they and the prescribed fractions thereof, as the
					 case may be, have in each case been reported on the basis herein prescribed.
					 Such declaration shall also state all cases in which a valuation of the basis
					 herein prescribed is impossible, the reasons therefor, and shall describe the
					 valuation actually used in such cases.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 2 - Valuation of Properties and Securities › Section 2291 - Adjustment of Values in Special Cases

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In cases where the conditions of insurance companies,
					 societies and associations may require special consideration or the immediate
					 disposal of assets, it shall be within the discretion of the Commissioner to
					 vary the general procedures or formulas herein set forth to the extent deemed
					 necessary, or to adopt prices reflected by the exchanges or
					 markets.
California Code of Regulations › Title 10 - Investment › Chapter 5 - Insurance Commissioner › Subchapter 3 - Insurers › Article 3 - Annual Statements › Premiums in Course of Collection › Section 2300 - Premiums in Course of Collection: When May Be Treated as Admitted

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of the Annual Statement required of insurers
						to be filed with the Insurance Commissioner of the State of California on or
						before March 1 of the current calendar year, the following Premiums in Course
						of Collection may be treated as "Admitted Assets":
(a) Premiums in course of collection, other
					 than life insurance and annuity premiums, and not more than 3 months past due
					 on December 31 of the preceding calendar year.
(b) Premiums in course of collection, other
					 than life insurance and annuity premiums, for which the Government of the
					 United States or any of instrumentalities is directly liable to the insurer,
					 whether or not more than 3 months past due on December 31 of the preceding
					 calendar year.
All other Premiums in Course of Collection on December 31
						of the proceeding calendar year shall be reported and will be treated as
						"Assets Not Admitted" unless provided otherwise in the Instructions relating to
						the completion of annual and quarterly statements.
All annual and quarterly statements must be completed in
						full compliance with the instructions attached thereto and set forth
						therein.
1.
						Amendment filed 5-30-74 as procedural and organizational; effective upon filing
						(Register 74, No. 22.)
Note: Authority cited for 2300 to 2301; Sections
						  923 and
						  12921,
						  Insurance Code.