California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 2 - Policy Forms and Other Documents
Article 6.9 - Standard Credit Life and Credit Disability Policy Forms
Section 2249.2 - Forms Subject to Prior Substantive Review and Approval

Universal Citation: 10 CA Code of Regs 2249.2

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

The following credit life and/or credit disability insurance forms shall be submitted to the Commissioner for his prior substantive review and approval following the procedures established by Sections 2201 through 2217 of this Subchapter.

(a) Standard forms for use by an insurer which has not actively transacted a substantial volume of credit life and/or disability insurance business in the State of California for a year prior to the date upon which the forms are proposed to be issued, unless and until such prior substantive review is expressly waived by the Commissioner in writing.

(b) Forms intended for use in lieu of the standard forms established by this Article. Cover letters for submission of such forms shall prominently state that the forms are to be issued in lieu of standard forms.

(c) Forms or provisions in forms not otherwise subject to this Section which provide coverage in addition to or different from the coverage provided by the forms established by this Article.

(d) Forms described in subsections (b) and (c) of this Section shall be drafted in text designed to be readily understood and interpreted by the persons insured thereunder and shall be based, to the extent possible, upon the standard forms established. Non-standard language in such forms shall be "highlighted" when they are submitted for review. Each such form shall use the Identification Number of the standard form upon which it was based, with "NON STD" added as a prefix or suffix.

The Commissioner shall disapprove such a form:

(1) If it would produce experience statistics which would not be readily usable in developing prima facie premium rates.

(2) If it uses atypical language or format and would, therefore, hinder consumer education.

(3) If it is not established to his satisfaction that its use will be more beneficial to the citizens of this State than the use of standard forms;

(4) It does not comply with any other applicable statute or regulation.

(e) The Commissioner waives the refiling of previously-approved forms described in Subsections (b) and (c) of this Section that are changed solely to reflect the 2008 amendments of this Article.

1. Amendment filed 7-25-83; effective thirtieth day thereafter (Register 83, No. 31).
2. Amendment of first paragraph and subsection (a) and repealer and new NOTE filed 10-2-2006; operative 11-1-2006 (Register 2006, No. 40).
3. New subsection (e) filed 5-27-2008; operative 6-26-2008 (Register 2008, No. 22).

Note: Authority cited: Sections 779.21 and 779.27, Insurance Code. Reference: Sections 779.8, 779.9, 779.12a and 779.27, Insurance Code.

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