Saturday, February 04, 2012

Calif. Issues 2012 Export List With No New Items

The California Insurance Commission has issued Bulletin No. 2012-1 outlining the state’s 2012 Export Lists, noting that no new items were added to the export list.

The Department noted that risks and coverages not appearing on this list may still be exportable but are subject to the full documentation of the diligent search being performed with respect to insurance issued to a home state insured as required by Insurance Code Section 1763.

The Commissioner may by order declare eligible for placement with a nonadmitted insurer and exempt from all the requirements of Section 1763, except the filing of a confidential written report, any type of insurance coverage or risk for which he finds after a public hearing that there is not a reasonable or adequate market among admitted insurers.

The state noted that a public hearing will be held annually or more often at the Commissioner's discretion regarding the export list.

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