CA AB 487
Title: Insurance.
Author: Assembly Insurance Committee
Summary
AB 487, as amended, Committee on Insurance. Insurance. (1) Existing law generally regulates the business of insurance in the state, including the issuance of securities. Existing law defines an agent to mean every person employed or appointed by an insurer or broker who sells a security in this state for compensation.This bill would update the term “agent” to “stock agent” and would make conforming changes.(2) Existing law requires the Insurance Commissioner to submit to the Department of Justice fingerprint images and related information as specified by statute for specified applicants applying for a license, including a surplus line broker, a life and disability analyst, and a variable life and variable annuity agent.This bill would delete the provisions requiring the commissioner to submit fingerprint images and related information for the above-listed individuals.(3) Existing law establishes the powers and duties of the Department of Insurance and the Insurance Commissioner. Existing law requires an application for specified licenses, including a production agency license, to be automatically denied without prejudice to the filing of a new application for the license, except in specified circumstances, if the applicant does not fully qualify for and receives the license on a permanent basis or is denied the issuance of the license, as specified.This bill would additionally include applications for bail, insurance adjuster, or public insurance adjuster licenses.(4) Existing law requires an insurance licensee or applicant for a license to notify the commissioner when any of their background information changes after the application has been submitted or the license has been issued. For this purpose, existing law defines “background information” to include an administrative action regarding a professional or occupational license, among other things.This bill would expand the definition for “background information” to also include an administrative action regarding conduct or activity for which a professional or occupational license was required, but not possessed, and an administrative or civil action filed by, or on behalf of, a government or regulatory agency alleging any unlawful conduct, activity, or omission.(5) Existing law authorizes a limited license to be issued to a natural person or to an organization that acts an agent on behalf of cargo owners or shippers, or both.This bill would update these provisions to clarify a limited license may be issued to an agent acting on behalf of the cargo owner, cargo shipper, or both. The bill would make conforming changes.(6) Existing law permits blanket insurance to be issued to a college, school, or other institution of learning, or a sports team, camp, sponsor, or proprietor of a sports team, providing benefits to students, teachers, or employees, or sports team participants, campers, employees, officials, supervisors, or persons responsible for their support, for death or dismemberment resulting from accident, or for hospital, medical, surgical, or nursing expenses resulting from accident or sickness, as specified. Existing law defines “blanket insurance” for purposes of these provisions.This bill would expand the groups for which blanket insurance may be issued to include coverage of volunteers for the entities described above.(7) Existing law prohibits knowingly employing runners, cappers, steerers, or other persons to procure clients or patients to perform or obtain services or benefits under workers’ compensation coverage or a contract of insurance or that will be the basis for a claim against an insured individual or their insurer. Existing law authorizes a district attorney, the Insurance Commissioner, or an interested person to bring a civil action for a violation of that provision. Existing law requires the district attorney or commissioner, for actions brought by an interested person, to either proceed with the action, in which case the action would be conducted by t
Status
From committee: Do pass and re-refer to Com. on JUD. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (July 9). Re-referred to Com. on JUD.
Bill Documents
CA AB 487 - 07/03/25 - Amended Senate
07/03/25 - CA AB 487 (07/03/25 - Amended Senate)
CA AB 487 - 05/28/25 - Amended Assembly
05/28/25 - CA AB 487 (05/28/25 - Amended Assembly)
CA AB 487 - 03/10/25 - Amended Assembly
03/10/25 - CA AB 487 (03/10/25 - Amended Assembly)
CA AB 487 - 03/10/25 - Amended Assembly
03/10/25 - CA AB 487 (03/10/25 - Amended Assembly)
CA AB 487 - 02/25/25 - Amended Assembly
02/25/25 - CA AB 487 (02/25/25 - Amended Assembly)
CA AB 487 - 02/25/25 - Amended Assembly
02/25/25 - CA AB 487 (02/25/25 - Amended Assembly)
CA AB 487 - 02/10/25 - Introduced
02/10/25 - CA AB 487 (02/10/25 - Introduced)
CA AB 487 - 02/10/25 - Introduced
02/10/25 - CA AB 487 (02/10/25 - Introduced)