ANNOUNCEMENT 01 Jan 2015In January 2015, announced a change in import formalities.
NUMBER OF INTERVENTIONS
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.