GREETINGS OCEAN MARINE UNDERWRITERS

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GREETINGS OCEAN MARINE UNDERWRITERS

• JOEL LAUCHER
• CHIEF, MARKET CONDUCT
• CALIFORNIA DEPARTMENT OF INSURANCE

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SORRY ABOUT THAT,GREETINGS, INLAND MARINE
UNDERWRITERS

• JOEL LAUCHER
• CHIEF, MARKER CONDUCT
• CALIFORNIA DEPARTMENT OF INSURANCE

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MARKET CONDUCT ISSUES

• PROPOSITION 103 (1988) REQUIRES THE FILING OF ALL
  INLAND MARINE RATES OR RATING PLANS (CIC1851,
  1861.01c)
• DOCUMENTATION OF EACH RATE APPLIED MUST BE
  MAINTAINED (CIC1857)
• MORE JUDGMENT MORE DOCUMENTATION
• CLAIMS/UNDERWRITING - CONSISTENCY IN
  DEPRECIATION, INSURANCE-TO-VALUE
• HOMEOWNERS USE IT-LOSE IT MEANS MORE MONOLINE
  INLAND MARINE

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RECENT LEGISLATION

• Enrolled
• Agent license requirements for telecommunications
  insurance sales, self-storage facilities
  (CIC1758.6, 1758.7)
• Definition of ACV determination, Replacement cost
  recovery extension to minimum 12 months (AB2692,
  AB2199 2004 - CIC 2051, 2051.5)
• Proposed
• Change of Suit clause in CSFFIP
• from 1 year to 2 years (SB518, CIC2071)

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THANK YOU!