IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jan 2015 | Removal date: open ended
Still in force

Import-related non-tariff measure, nes

On September 15, 2014 the governor of California signed into law a bill (AB 1130) that eases the administrative burden imposed on foreign providers of home insurance. Under existing law, a person may not issue or offer to issue home protection contracts in California unless the person holds a home protection company license issued by the Department of Insurance.
 
The bill provides that certain requirements for a home protection company license do not apply to a foreign applicant, including filing a financial statement certified by the applicant's home state regulatory official as a true and correct copy of the statement filed with that official, and holding a certificate of authority as an insurance company, only if the applicant stipulates that the applicant will provide financial reports in the same manner required of domestic home protection companies. 

AFFECTED COUNTRIES

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