Bill Text: CA SB1184 | 2011-2012 | Regular Session | Chaptered

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Bill Title: Senior insurance: veterans benefits.

Spectrum: Slight Partisan Bill (Democrat 6-3)

Status: (Passed) 2012-08-29 - Chaptered by Secretary of State. Chapter 222, Statutes of 2012. [SB1184 Detail]

Download: California-2011-SB1184-Chaptered.html

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BILL NUMBER: SB 1184	CHAPTERED
	BILL TEXT

	CHAPTER  222
	FILED WITH SECRETARY OF STATE  AUGUST 29, 2012
	APPROVED BY GOVERNOR  AUGUST 29, 2012
	PASSED THE SENATE  MAY 3, 2012
	PASSED THE ASSEMBLY  AUGUST 16, 2012
	AMENDED IN SENATE  APRIL 17, 2012
	AMENDED IN SENATE  APRIL 9, 2012

INTRODUCED BY   Senator Corbett
   (Coauthors: Senators Anderson, Calderon, Correa, Gaines, Lieu,
Lowenthal, Price, and Wyland)

                        FEBRUARY 22, 2012

   An act to add Section 785.5 to the Insurance Code, relating to
senior insurance.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1184, Corbett. Senior insurance: veterans benefits.
   Existing law requires all insurers, brokers, agents, and others
engaged in the transaction of insurance to owe to a prospective
insured who is 65 years of age or older, a duty of honesty, good
faith, and fair dealing.
   This bill would prohibit an insurance broker or agent from
participating in, being associated with, or employing any party that
participates in, or is associated with, obtaining veterans benefits
for a senior, unless the insurance agent or broker maintains
procedural safeguards designed to ensure that the agent or broker
transacting insurance has no direct financial incentive to refer the
policyholder or prospective policyholder to any veterans benefits
program offered through the government.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 785.5 is added to the Insurance Code, to read:
   785.5.  An insurance broker or agent shall not participate in, be
associated with, or employ any party that participates in, or is
associated with, obtaining veterans benefits for a senior, unless the
insurance agent or broker maintains procedural safeguards designed
to ensure that the agent or broker transacting insurance has no
direct financial incentive to refer the policyholder, or prospective
policyholder, to any veterans benefits program offered through the
government.