New law allows consumers to transact more insurance via e-commerce
News: 2015 Press Release
SACRAMENTO, Calif. - Governor Brown signed Assembly Bill 1131 today, which expands life insurers' ability to transact business electronically. Authored by Assembly Member Matt Dababneh and sponsored by Insurance Commissioner Dave Jones, the law is an important step in keeping up with increasing use of technology for consumers who seek to opt in to e-commerce for insurance transactions.
"This law addresses our increasing reliance on new technology and the need for real-time communication," said Commissioner Jones. AB 1131 improves communication efficiency and effectiveness between insurers and consumers regarding life insurance policies. I'd like to thank Assembly Member Dababneh for authoring this bill."
The department sought to expand current e-commerce authorizations to include life insurance policy documents so consumers have access to streamlined communication about certain life insurance policies with their insurer.
- The insurer must comply with specified provisions of state and federal law and additional procedures and standards.
The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $469 million in claims and premiums. Please visit the Department of Insurance website at www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800.927.4357. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.