SB 425: Insurance: life and disability file review.

Existing law provides for the regulation of life and disability insurance by the Department of Insurance. Existing law authorizes the Insurance Commissioner, in order to streamline the departments file review process for life and disability insurance forms, to develop and publish procedural requirements for file submission, guidelines and checklists that list and interpret applicable required and optional insurance statutes and regulations, and standard insurance contract language previously approved by the department.

This bill would state the intent of the Legislature to authorize the department to provide, when applicable, an expedited policy approval process, as specified. additionally authorize the commissioner to develop and publish an expedited policy form approval application.