IIABCal House of Origin Legislative Update
Prepared by Norwood Associates, LLC
June 5, 2023
AB 451 (Calderon): Insurance: license examinations.
This bill requires the Insurance Commissioner (IC) to provide the licensing examination for a life agent, accident and health or sickness agent, property broker-agent, and casualty broker-agent in English, Spanish, Simplified Chinese, Vietnamese, Korean, and, commencing July 1, 2024, Tagalog.
IIABCal Position: SUPPORT
Status: Passed the Assembly with unanimous support. In Senate Insurance Committee awaiting a hearing.
AB 970 (L. Rivas): Insurance: Climate and Sustainability Insurance and Risk Reduction Program.
This bill requires the California Department of Insurance (CDI), upon appropriation, to establish and administer the Climate and Sustainability Insurance and Risk Reduction Program.
IIBACal Position: SUPPORT
Status: Passed the Assembly 75-0. In the Senate Rules Committee awaiting policy committee assignment.
AB 984 (McCarty): Pupil instruction: high school graduation requirements: economics: personal finance.
This bill would have required schools to offer a course in personal finance, including information about the types and cost of insurance, to high school students.
IIABCal Position: SUPPORT
Status: Placed on the Inactive File on the Assembly Floor by the author. Unfortunately, due to opposition from schools, the bill was watered down so much by the time it got to the Floor that the author decided he no longer wanted to pursue the measure this year.
AB 1578 (Valencia): Insurance licensees.
This bill clarifies that individual licensees must include their individual license number on emails sent by the licensee individually, and that an agency’s license number must only be included on emails sent by an insurance agency and when the communication involves an activity for which a license is required.
IIABCal Position: SPONSOR & SUPPORT
Status: Passed the Assembly with unanimous support. In Senate Insurance Committee awaiting a hearing.
SB 278 (Dodd): Elder Abuse.
This bill provides that a person who assists in taking, secreting, appropriating, obtaining, or retaining property for a wrongful use has committed financial abuse, if the person knew or should have known that this conduct is likely to be harmful to the elder or dependent adult.
The author accepted amendments to establish a safe harbor for persons who may be liable for assisting in the taking of property from an elder or dependent adult, clarify the applicability of certain actions deemed to be assisting in the taking of property, and clarify the intent of the author that the bill does not make a nonsupervisory employee of a financial institution individually liable for acts related to assisting in the taking of property.
IIABCal Position: OPPOSE (however, very light given our work on SB 263)
Status: Passed the Senate with a vote of 33-5. In Assembly, referred to Assembly Banking & Finance and the Judiciaru Committees.
SB 505 (Rubio): Property Insurance.
This bill requires the Fair Access to Insurance Requirements (FAIR) Plan to develop a clearinghouse program that connects voluntary market insurers to FAIR Plan commercial policyholders.
IIABCal Position: SUPPORT
Status: Passed the Senate with a vote of 36-0. Scheduled for hearing in the Assembly Insurance Committee on June 28, 2023.
SB 867 (Allen): Drought, Flood, and Water Resilience, Wildfire and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity and Nature-Based Climate Solutions, Climate Smart Agriculture, Park Creation and Outdoor Access, and Clean Energy Bond Act of 2024.
This bill enacts the Drought, Flood, and Water Resilience, Wildfire, and Forest Resilience, Coastal Resilience, Extreme Heat Mitigation, Biodiversity, and Nature-Based Climate Solutions, Climate Smart Agriculture, Park Creation and Outdoor Access, and Clean Energy Bond Act of 2024, which authorizes a $15.5 billion bond to be placed before voters at an unspecified future election.
IIABCal Position: SUPPORT
Status: Passed the Senate with a vote of 33-5. In the Assembly awaiting policy committee assignment.