California Governor Gavin Newsom has signed legislation that incorporates the National Association of Insurance Commissioners (NAIC) model for annuity transactions. NAIFA Kevin Mayeux, CAE, released the following statement:
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NAIFA’s Mayeux Applauds California’s Adoption of the NAIC Best Interest Model for Annuity Transactions
By NAIFA on 3/1/24 9:41 AM
Topics: State Advocacy Press Release NAIC Model Regulation Annuity Best Interest California
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California Insurance Department FAQ Aims to Clear Up Confusion About LTCi Program Study
By NAIFA on 8/18/23 3:03 PM
California has not at this time established a publicly funded state-run long-term care insurance program or set deadlines for employees in the state to opt out. The state established a Task Force to study the possibility of such a program and make recommendations, and that study is ongoing. The California Department of Insurance has issued a revised Frequently Asked Questions Document to clear up some common misconceptions. Among topics covered by the FAQ are:
Topics: Long-Term Care Insurance State Advocacy Limited & Extended Care Planning Center California
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NAIFA-CA Urges Lawmakers to Amend Bill That Would Harm Life Insurance Producers and Consumers
By NAIFA on 3/17/23 4:51 PM
NAIFA's California chapter is holding its annual Legislative Day in Sacramento on March 29. The event will feature visits with lawmakers by NAIFA-CA members, during which they will discuss SB 263, a legislative proposal that in its current form would harm the ability of insurance agents and brokers to serve the public.
Topics: Life Insurance & Annuities Legislation & Regulations State Advocacy Standard of Care & Consumer Protection Press Release California Legislative Day
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NAIFA’s State Advocacy Hard at Work in California
By NAIFA on 5/17/22 4:31 PM
Selected advocates from NAIFA-CA’s grassroots network have reached out to influential members of the California Senate Appropriations Committee to urge the defeat of SB927 in the committee. The legislation would require insurance professionals and companies to provide confusing and costly disclosures that have no practical benefit for consumers. It would also result in increased litigation and higher costs for California consumers. Previously, NAIFA and coalition partners including the American Council of Life Insurers (ACLI) and the Association of California Life and Health Insurance Companies (ACLHIC) offered amendments that would address many of the bill’s unworkable provisions.
Topics: State Advocacy Standard of Care & Consumer Protection Grassroots California Insurance & Financial Advisor Regulation
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NAIFA Members Get Together With California Lawmakers
By NAIFA on 10/15/21 4:38 PM
NAIFA-CA members, including National President Tom Michel, LACP, and Past President John Davidson, LUTCF, FSS, attended a meeting earlier this week with California state and federal lawmakers. During the event, NAIFA members were able to connect with several state officials.
Topics: State Advocacy Grassroots California Legislative Day
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NAIFA-CA's Virtual Day on the Hill Is a Success
By NAIFA on 4/6/21 9:00 AM
NAIFA-California held their annual Day on the Hill as a virtual event over several days in late March. Attendees received legislative and regulatory updates and heard from speakers who shared insights about building relationships with lawmakers and being an effective political advocate.
Topics: State Advocacy Grassroots California Legislative Day
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NAIFA-CA Helps Alleviate Industry Concerns with HIV Modernization Bill
By NAIFA on 9/4/20 12:05 PM
The California State Legislature recently passed a bill to prohibit life and disability income insurance providers from denying coverage to HIV-positive individuals. The bill, initially introduced as SB 961 by Sen. Lena Gonzales (D), was initially concerning to NAIFA. Together with the Association of California Life & Health Insurance Companies (ACLHICI) and the American Council of Life Insurers (ACLI), NAIFA worked with Gonzales to amend the bill to give insurers more underwriting flexibility, while still prohibiting them from declining applicants based solely upon an HIV test.