California Insurance Code

§ 810

INS § 810Div. 1 · Part 2 · Ch. 1 · Art. 7.3

Statute text

An admitted insurer, without first obtaining the written consent of the commissioner, shall not enter into any agreement or arrangement with any nonadmitted insurer by way of sale, reinsurance, merger, consolidation, assumption, or in any other manner which results in the admitted insurer ceasing to service in this state any group insurance contract or 10 or more individual insurance contracts entered into in this state or issued for delivery in this state insuring the life or person of any resident of this state or any property in this state. Service as used in this section includes but is not limited to:

(a)Adjustment and payment of losses.

(b)Appropriate amendment of insurance contracts as called for therein to keep the coverage consistent with current conditions.

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Legislative history

Added by Stats. 1967, Ch. 1115.