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The measure, which received unanimous, bipartisan support, was sponsored by Insurance Commissioner Dave Jones and authored by the Assembly Committee on Insurance.
Of particular note, AB 1416 permits the Insurance Commissioner to remove a life agent’s authority to transact variable life insurance contracts upon learning that the agent is no longer registered to transact securities with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority.
The current process is time consuming, leaving the door open for a life agent to continue selling these insurance products when they are no longer authorized to do so.
“I am very pleased to have this new authority,” said Commissioner Jones. “Timelier removal of a life agent’s variable contract authority helps me to better protect consumers from agents who are not authorized to sell annuities or the other complex variable life contract products. In light of the enactment of AB 689 – the landmark annuity suitability bill that I sponsored – this particular measure is especially important.”
Additionally, AB 1416 revises several insurer-related filing requirements which will enhance the Department’s operational efficiencies and enable department staff to focus on critical issues relating to consumer protection and maintaining a vibrant and solvent California insurance market.
AB 1416 also makes several changes in law relating to insurance producer licenses, including clarifying the bond requirement for an agent or broker who holds both property and casualty licenses.
Legislation enacted last year that created the two license types was unclear on the bonding requirements and, as written, the law could be interpreted that a separate bond was required for each license. AB 1416 clarifies that only one bond is required.
AB 1416 goes into effect Jan. 1, 2012.
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“An Overview of the Commissioning Process for New and Existing Buildings” will be held on Thursday, Oct. 6, in the Board of Supervisors chambers in the Lake County Courthouse, 255 N. Forbes St., Lakeport from 8:30 a.m. to 4:30 p.m.
This class is designed for building owners, building inspectors, architect/designers, energy consultants, solar/PV designers, and contractors: general, electrical, HVAC/mechanical engineer, plumbing and more.
This full day class will explore the benefits of building commissioning, which includes retrofitting and operational changes and adjustments, resulting in reduced energy use, improved building performance and fewer change orders during the construction process.
In Middletown at the Calpine Geothermal Visitor Center, 15500 Central Park Road “Integrating Energy Efficiency and Renewables in Home Retrofits” will be held Wednesdsay, Oct. 19, from 9 a.m. to 4:30 p.m.
This class is designed for homeowners, energy consultants, solar/PV designers, HERS raters, and contractors: general, home performance, HVAC/mechanical and more.
This full day class will discuss energy efficiency measures, how to assess their potential in the home and what their implementation would do to reduce the size of proposed renewable energy systems.
Registration is required for all classes, and complimentary continental breakfast and lunch will be provided.
You may find the registration links, classes in Ukiah and more information on the Lake County Watch webpage at www.energy.co.lake.ca.us, and select “Free Training Opportunities” on the left-hand side of the page, or you may register and find additional free training opportunities at www.pge.com/energyclasses.
In addition to presenting free training opportunities, Lake County Energy Watch has programs available for qualified residential and nonresidential customers in Lake County.
The Energy Fitness Program offers lighting retrofits (remove and replace existing lighting for high energy efficient lighting) at no- or low-cost for customers whose electrical demand is 200 kW or less including city, state and federal facilities located in Lake County, as well as non-profit organizations, small businesses and special districts.
The retrofits include four and eight foot linear fixtures, high bay fixtures, Energy Star compact fluorescent lamps, LED exit signs, occupancy sensors, vending machine controllers, faucet aerators, as well as additional LED and other cost effective savings measures.
Most of these measures are at absolutely no cost – including removal and installation – with just a few of the options requiring a nominal surcharge.
Lake County Energy Watch was awarded $10,000 by PG&E to assist non-profit organizations in Lake County with paying any applicable surcharge for lighting retrofits.
When nonprofits receive services from RHA through the Lake County Energy Watch program, RHA will invoice Lake County Energy Watch on behalf of the eligible organization.
For residential customers, Lake County Energy Watch is helping to promote A.B.S, an Energy Savings Assistance Program contractor previously known as the Energy Partner Contractor with PG&E, that can provide qualified residents with free energy education and weatherization on homes, apartments or mobile homes which can include attic insulation, weather stripping, caulking, energy-efficient lighting and refrigerators, window repair and more.
Lake County Energy Watch is administered by PG&E using funding from California utility ratepayers under the auspices of the California Public Utilities Commission.
Energy Watch partnerships are designed to help local governments and their communities lower their energy bills and enjoy a cleaner environment.
For more information about the Lake County Energy Watch program, contact Michalyn DelValle at 707-263-2221 or visit www.energy.co.lake.ca.us.
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Mark Davis Insurance Agency was chosen after satisfying a number of eligibility requirements, which included: demonstrating a commitment to community service; meeting a high-level of business and ethics standards; and completing a training program designed to highlight the needs of the 50+ population.
“For 25 years, the industry-leading AARP-branded auto insurance program from The Hartford has been extremely popular,” said Kathy Bromage, vice president, The Hartford. “Much of the success of this program is due to innovative product features and a commitment to truly understand and support our customers. We are thrilled to now be able to offer these benefits with our independent agent partners.”
According to research from The Hartford, the majority of AARP members prefer the advice and counsel of a local agent when making decisions about their insurance. Based on this research and strong customer demand, The Hartford is offering the AARP-branded auto insurance program through select, authorized independent agents. These products were previously only available from The Hartford by phone, the Internet and by mail.
The AARP-branded auto insurance program is designed in consultation with The Hartford Advance 50 Team, which helps to tailor products and services specifically to the interests and needs of baby boomers and older adults.
Other unique hallmarks of the program include:
Lifetime continuation agreement – assures that the customer’s insurance policy will not be dropped as long as a few simple requirements are met.
RecoverCare – helps customers pay for assistance with daily errands and responsibilities, like cooking, cleaning, shopping, dog walking, transportation and yard work if they are injured in an auto accident.
Standard 12-month rate protection versus the traditional six month policies offered by most companies.
With a staff of 14 agents and customers service representatives, Mark Davis Insurance Agency Inc. brings well over 100 years of professional insurance experience to the residents of Lake and Mendocino counties. Visit the company online at www.markdavisinsurance.com.
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AB 155 (Calderon) paves the way for a nationwide solution by giving Internet retailers time to push for passage of a federal bill that mirrors California's legislation.
“A prolonged, costly ballot battle is a benefit to no one,” Gov. Brown said. “This landmark legislation not only levels the playing field between online retailers and California’s brick-and-mortar businesses, it will also create tens of thousands of jobs and inject hundreds of millions of dollars back into critical services like education and public safety in future years. It’s time for Washington to follow our lead and forge a bipartisan national solution.”
AB X1 28, passed by the legislature and signed by the Governor in June as part of the budget, affirmed that out-of-state online retailers like Amazon must collect sales tax.
The compromise legislation delays those tax collection obligations to give online companies time to seek an alternative national solution.
In exchange for the additional window of time the bill provides, Amazon has pledged to create at least 10,000 full-time jobs and hire 25,000 seasonal employees in California by the end of 2015.
This will generate an estimated half billion dollars of capital investment in California. Amazon will also drop its referendum challenge to AB X1 28.
“Amazon is grateful for Governor Brown's support of this bill and enactment of federal legislation, and we look forward to creating thousands of jobs in California,” said Paul Misener, vice president of Global Public Policy for Amazon.
If Congress fails to act on nationwide legislation, online sales tax collection in California will begin Sept. 15, 2012.
The Board of Equalization has estimated that California loses over $1 billion annually from uncollected use taxes. Their analysis also shows that California currently loses at least $83 million annually in uncollected state and local use tax attributed to Amazon’s sales in California.
Today’s compromise is supported by thousands of businesses, including Barnes & Noble Inc., Best Buy Inc., Crate & Barrel, Daniel’s Jewelers, Gap Inc., The Home Depot Inc., J.C. Penney Company Inc., Lowe's Companies Inc., Safeway Inc., Sears Holding Corporation, Target Corporation, Walmart Stores Inc., Westfield Group, and many other small- and medium-sized businesses across California.
“This is a major victory for brick-and-mortar businesses in this state. We thank Governor Jerry Brown and the leaders in the California State Legislature who have demonstrated their commitment to our businesses by passing and signing e-fairness into law,” said California Retailers Association President and CEO Bill Dombrowski. “Amazon's concession to finally begin collecting sales tax in California is a groundbreaking moment that sends a strong message to Washington that it is time to stop giving special treatment to a select few. All retailers deserve the chance to compete, grow and create jobs on a level playing field, without government picking winners and losers.”