SB 1206: Insurance: omnibus.

This bill amends several sections of the insurance code to improve regulation and oversight of the insurance industry in California. It makes inactive the license of any licensee that is dissolved, forfeited, terminated, canceled, or surrendered by the secretary of state. The bill also indefinitely extends the increased limitation on discretionary investments for domestic incorporated insurers. The bill clarifies provisions for the regulation and licensing of production agencies, tolling the 12-month period for applicants during a review of their background information for alleged violations. It also requires licensees and applicants to promptly supply complete written responses to inquiries from the commissioner. The bill expands the eligibility categories for certificates of convenience and temporary permits issued by the commissioner. It also prohibits knowingly employing certain ind…