(a) In order to streamline the department’s file review process for life and disability insurance forms, the commissioner may develop and publish all of the following:
(1) Procedural requirements for file submission.
(2) Guidelines and checklists that list and interpret applicable required and optional insurance statutes and regulations.
(3) Standard insurance contract language previously approved by the department.
(b) Documented use of the published standards described in paragraphs (1) to (3), inclusive, of subdivision (a) will enable the department to expedite its review process. In order to expedite file review, an expanded cover letter, in a format published by the department, shall be used to clearly document and demonstrate compliance with those standards.
(c) A publication developed pursuant to this section shall be made available on a dedicated page of the department’s Internet Web site.
(Added by Stats. 2015, Ch. 691, Sec. 1. (AB 387) Effective January 1, 2016.)
Last modified: October 25, 2018