The California Insurance Code are the codified
California law
The law of California consists of several levels, including constitutional, statutory, and regulatory law, as well as case law. The California Codes form the general statutory law, and most state agency regulations are available in the Calif ...
s regarding
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
. The code not only covers requirements for home, auto, medical and business insurance policies, but also covers the licensing of bail bond agents, workers' compensation, motor club services, and other related business types. Topics include: classes of insurance, code provisions governing the insurance commissioner, laws pertaining to insurance adjusters, insurance contracts, liability limitations, and common carrier liability insurance. The
California Department of Insurance oversees the enforcement of the code and execution of its policies.
History
Slavery Era Insurance Registry
In September 2000, Governor
Gray Davis signed State Bill 2199 into law, adding a provision into the California Insurance Code for creation of a Slavery Era Insurance Registry. The bill was created with the intent of preserving historical information regarding
slave owners
The following is a list of slave owners, for which there is a consensus of historical evidence of slave ownership, in alphabetical order by last name.
A
* Adelicia Acklen (1817–1887), at one time the wealthiest woman in Tennessee, she inh ...
and their slaves in order to provide genealogical research information for slave descendants as well as to preserve possible evidence for potential
reparation claims. The bill requires insurance companies to provide the California Department of Insurance with any historical records regarding slaveholder insurance policies issued by any predecessor corporation during the
era of slavery. The information collected is to be made available to the public by the Department.
Rescission Provision Upheld
Under the code sections 331 and 359, when an insured has misrepresented or concealed facts which are material to the application for insurance, the underwriter may rescind the policy. On March 8, 2005, the California Court of Appeal's 2nd Appellate District Div. Five affirmed and enforced California's Marine Rule in ''James E. Mitchell, Individually and as Trustee of the Mitchell Family Trust vs. United National Ins. Co.''. The summary finding stated:
insurer may, under aliforniaInsurance Code sections 331 and 359, rescind a fire insurance policy based on an insured's negligent or unintentional misrepresentation of a material fact in an insurance application, notwithstanding the willful misrepresentation clause included in the required standard form fire insurance policy (Insurance Code sections 2070 and 2071).
See also
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Law of California
The law of California consists of several levels, including constitutional, statutory, and regulatory law, as well as case law. The California Codes form the general statutory law, and most state agency regulations are available in the Californi ...
*
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
*
Insurance Law Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especial ...
*
California Department of Insurance
References
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California
California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...
Insurance Code