The Legislature finds and declares all of the following:
(a) It is in the state’s interest to encourage competitive business opportunities for all of its people. Insurers are uniquely positioned to build relationships within the communities they serve through the development, inclusion, and utilization of certified minority, women, and disabled veteran-owned business enterprises whenever possible. National companies are able to leverage buying power to save costs to the benefit of policyholders.
(b) By providing that each major insurer submit to the Insurance Commissioner a report explaining the insurer’s supplier diversity statement and expressing its goals regarding certified minority, women, and disabled veteran-owned business enterprises, and the commissioner placing that information on the department’s Internet Web site, that online resource will help facilitate these supplier relationships.
(Added by Stats. 2012, Ch. 414, Sec. 1. (AB 53) Effective January 1, 2013. Repealed as of January 1, 2019, pursuant to Section 927.3.)
Last modified: October 25, 2018