Governor Signs Disability Policy Bill

Governor Brown signed Assembly Bill 387 into law. It will improve the department’s ability to review and approve disability policy filings more effectively and completely in the specified timeframe. The law extends the period from 30 to 120 calendar days for the department to review and approve policy forms and any associated risks and premium rates. The bill was authored by Assembly Member Kevin McCarty and co-sponsored by Insurance Commissioner Dave Jones. The new law authorizes the Commissioner to develop and publish new guidelines on the department’s public website to expedite the department’s file review process for life and disability insurance forms. It will provide clear guidelines for insurers to follow when submitting policies for approval. AB 387 reflects an agreement between the California Department of Insurance and the Association of California Life and Health Insurance Companies.

Last Updated 11/13/2019

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