SB 534 — Insurers: minority, women, LGBT, veteran, and disabled veteran business enterprises.

Summary

Existing law requires each admitted insurer with premiums written equal to or in excess of $100,000,000 to provide information to the Insurance Commissioner on all of its community development investments and community development infrastructure investments in California. This bill would require those insurers to also report to the commissioner on their minority, women, LGBT, veteran, and disabled veteran-owned business procurement efforts, as specified. Under the bill, a failure to report the information by the reporting deadline would subject the admitted insurer to civil penalties to be fixed and enforced by the commissioner, as provided. The bill would also require each of those insurers to report to the commissioner regarding the demographic makeup of the insurer's governing board and the insurer's goals regarding board diversity. The bill would require an insurer to provide each board member with an opportunity to participate in a survey for the purposes of collecting the demographic information, and would require an insurer to submit that information to the department in the aggregate. Under the bill, the demographic information would be confidential and the bill would prohibit the department or an insurer from releasing that information, except as provided by the bill. The bill would require the above-described information to be reported to the commissioner on July 1, 2020, and then biennially thereafter. The bill would require the commissioner, by November 1 of each reporting year, to establish and maintain a link on the department's internet website that provides public access to the reported information. The bill would require the commissioner to establish and appoint an Insurance Diversity Task Force to advise the department on the best methods to increase procurement with diverse suppliers and to increase diversity on governing boards within the insurance industry. Existing constitutional provisions require that a statute that limits the right of access to the meetings of public bodies or the writings of public officials and agencies be adopted with findings demonstrating the interest protected by the limitation and the need for protecting that interest. This bill would make legislative findings to that effect.

Bill Text

• Chaptered 09/05/19 - Chaptered Current pdf September 05, 2019
• Enrolled 08/27/19 - Enrolled pdf August 27, 2019
• Amended 07/03/19 - Amended Assembly pdf July 03, 2019
• Amended 05/24/19 - Amended Senate pdf May 24, 2019
• Amended 04/30/19 - Amended Senate pdf April 30, 2019
• Amended 03/28/19 - Amended Senate pdf March 28, 2019
• Introduced 02/21/19 - Introduced pdf February 21, 2019
• SB534 View text html

Action History

1. September 05, 2019

   Chaptered by Secretary of State. Chapter 249, Statutes of 2019.

2. September 05, 2019

   Approved by the Governor.

3. August 30, 2019

   Enrolled and presented to the Governor at 3 p.m.

4. August 26, 2019

   Assembly amendments concurred in. (Ayes 32. Noes 0. Page 2267.) Ordered to engrossing and enrolling.

5. August 22, 2019

   In Senate. Concurrence in Assembly amendments pending.

6. August 22, 2019

   Read third time. Passed. (Ayes 61. Noes 4. Page 2809.) Ordered to the Senate.

7. August 15, 2019

   Read second time. Ordered to third reading.

8. August 14, 2019

   From committee: Do pass. (Ayes 13. Noes 3.) (August 14).

9. July 10, 2019

   From committee: Do pass and re-refer to Com. on APPR. (Ayes 12. Noes 0.) (July 10). Re-referred to Com. on APPR.

10. July 03, 2019

    From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS.

11. June 25, 2019

    From committee: Do pass and re-refer to Com. on INS. (Ayes 9. Noes 2.) (June 25). Re-referred to Com. on INS.

12. June 13, 2019

    Re-referred to Coms. on JUD. and INS. pursuant to Assembly Rule 96.

13. June 06, 2019

    Referred to Coms. on INS. and JUD.

14. May 29, 2019

    In Assembly. Read first time. Held at Desk.

15. May 29, 2019

    Read third time. Passed. (Ayes 32. Noes 1. Page 1366.) Ordered to the Assembly.

16. May 28, 2019

    Read second time. Ordered to third reading.

17. May 24, 2019

    Ordered to second reading.

18. May 24, 2019

    Read third time and amended.

19. May 14, 2019

    Read second time. Ordered to third reading.

20. May 13, 2019

    From committee: Do pass. (Ayes 4. Noes 0. Page 1033.) (May 13).

21. May 03, 2019

    Set for hearing May 13.

22. April 30, 2019

    Read second time and amended. Re-referred to Com. on APPR.

23. April 29, 2019

    From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0. Page 799.) (April 23).

24. April 12, 2019

    Set for hearing April 23.

25. April 10, 2019

    From committee: Do pass and re-refer to Com. on JUD. (Ayes 9. Noes 0. Page 652.) (April 10). Re-referred to Com. on JUD.

26. March 28, 2019

    From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS.

27. March 28, 2019

    Set for hearing April 10.

28. March 07, 2019

    Referred to Coms. on INS. and JUD.

29. February 22, 2019

    From printer. May be acted upon on or after March 24.

30. February 21, 2019

    Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

• Bradford · Primary

Votes

Subjects