Bill > AB487

This bill makes numerous technical and substantive changes to various sections of California's Insurance Code. It updates terminology, clarifies licensing requirements, expands blanket insurance coverage to include volunteers, modifies fingerprint submission requirements for insurance licensees, and extends investment authorization for the State Compensation Insurance Fund. Specifically, the bill changes the term "agent" to "stock agent" in several sections, removes requirements for the Insurance Commissioner to submit fingerprint images for certain license applicants, expands the definition of "background information" that licensees must report, and allows blanket insurance policies to cover volunteers for organizations like schools, sports teams, and governmental departments. The bill also modifies provisions related to bail agents, fugitive recovery agents, and vehicle service contracts, and extends the State Compensation Insurance Fund's investment authorizations indefinitely. Additionally, the bill makes technical corrections to eliminate outdated references and correct errors in existing law, with the goal of improving the clarity and effectiveness of insurance regulations in California.

Budget and Finance, Business and Industry, Justice

Insurance (Assembly)

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB487