This is the main body of laws that regulates the business of insurance in the state of California.
Administrative Code of Regulations
This is issued by the Commissioner to explain how the Insurance Code is to be administered.
This is a person elected by the citizens of California to head the DOI. The commissioner enforces the law and code.
The funds and property contributed to an insurer by its stockholders or investors.
California Insurance Guaranty Association
The association's purpose is to provide each member with insolvency insurance and indemnity toward claims of policyholders of an insolvent company.
This occurs when an insurer's underwriting department finds information that indicates increased risk that can be verified through actuarial (statistical) proof.
This is morally unacceptable and illegal. Specific classification for discrimination that cannot exist include religion, color, ancestry, national origin, sexual orientation, race, and physical and mental impairments that do not increase risk.
Shall and May
The word "shall" indicates an action is mandatory and the word "may" indicates an action is permissive, unless otherwise apparent from the context.
This means a first or third party claimant, any person who asserts a right of recovery under a surety bond, an attorney, any person authorized by operation of law to represent the claimant, or any of the following persons properly designated by the claimant such as: an insurance adjuster, a public adjuster, or any member of the claimant's family.
Notice of claim
This is any written or oral notification to an insurer or its agent that reasonably apprises the insurer that the claimant wishes to make a claim against a policy or bond issued by the insurer and that a condition giving rise to the insurer's obligations under that policy or bond may have arisen.
Notice of legal action
This is a notice of an action commenced against the insurer with respect to a claim, or notice of action against the insured received by the insurer, or notice of action against the principal under a bond, and includes any arbitration proceeding.
This is the person requiring the bond and to whom the promise has been made. The oblige is paid if the principal defaults.
This is the person whose debt or other obligation is secured or guaranteed by a bond and who has the primary duty to pay the debt or discharge the obligation.
Proof of claim
This is any documentation in the claimant's possession submitted to the insurer which provides any evidence of the claim and that supports the magnitude or the amount of the claimed loss.