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Governor Signs CIGA Reinsurance Bill

Tuesday, September 26, 2017 | 686 | 0 | 0 min read

Gov. Jerry Brown signed into law a bill allowing the California Insurance Guarantee Association to purchase reinsurance from any reinsurer authorized to transact business in the state. Gov. Jerry Brown The governor on Saturday signed Senate Bill 430, a measure introduced by the Senate Insurance Committee to give CIGA more flexibility when purchasing reinsurance. Current law requires CIGA to purchase reinsurance from a company that is a member the association. Proponents of SB 430 said more reinsurers are not members of CIGA. The bill will allow the association to purchase reinsurance fro...

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