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California Insurance Company Contractors Must Have 50,000 Bond

by Surety Admin 4. September 2010 12:24
California AB 953 would expand existing law concerning the confidential information that an insurance company may obtain from the Department of Motor Vehicles (Department) to apply to contractors acting on behalf of the insurance company. Current law permits the insurer to obtain a vehicle owner or motorist’s address if he or she was involved in an accident with the company’s insured. The bill would require the insurance company’s contractor to post a $50,000 bond in connection with its duties to obtain information from the Department. The law already requires such a bond for individuals establishing commercial information requester accounts. As introduced, the bill did not include this bond requirement, but it recently was amended to include it.
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Surety Blog Categories:  Contract Bonds | Misc Bond Information | Surety Law Changes

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