ANNOUNCEMENT 01 Jan 2015

In January 2015, announced a change in import formalities.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
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 SECTORS

 

AFFECTED PRODUCTS

 
N/A