Calif. Advances Bills To Ramp Up Oversight Of Insurers

Law360, New York (June 21, 2012, 8:33 PM EDT) -- A California Assembly committee on Wednesday approved two bills that aim to provide state regulators with a better glimpse into insurers' financial health and align the state's reinsurance laws with the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The Assembly Insurance Committee's approval comes only a few weeks after S.B. 1448 and S.B. 1216 cleared the California Senate. If the measures are signed into law, California would join Connecticut, Virginia, Florida, New York, Indiana and New Jersey in adopting model laws established by the National...
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