(2) "Second Mandatory Factor" as used in Subchapter 4.7, is the number of miles he or she drives annually, per CaliforniaInsurance Code Section 1861.02(a)(2).
Except as provided in section (c)(2)(F) Tthis factor means the estimated annual mileage for the insured vehicle during the 12 month period following the inception of the policy. Insurers may not retroactively or prospectively adjust premiums based on actual miles driven unless notice is provided to the policy holder prior to the effective date of the policy. Estimated annual mileage shall be determined only as follows and except as otherwise set forth in this section, an insurer shall use the applicant's estimated annual mileage:
block, if the insurer establishes an actuarial basis for such differential pricing and the
Commissioner approves the differential pricing in the insurer’s rate or class plan application.
2. Hybrid Time Basis and Miles Basis Policy, with notice of expiration provided at time of policy purchase. Automobile liability coverage is offered for a set time period. If the block of miles purchased by the insured expires and the insured does not purchase additional miles, all coverages other than automobile liability coverage will expire, provided the insurer gives notice pursuant to CaliforniaInsurance Code Section 663. An insurer may comply with the notice requirements of CaliforniaInsurance Code Section 663 if it gives notice to the insured at the time of purchase of the policy that specified coverages other than automobile liability coverage will expire upon exhaustion of the purchased miles. Such notice shall be effective only if the insured agrees in writing at the time of purchase of the policy to the terms of the notice and
The second consideration relating to premium surcharge rates goes to when premium surcharges may be properly applied. In general, premium surcharges based on claims come into play after the policyholder has made a claim against her homeowners insurance policy. To the extent the premium surcharge increases the premium, that rate increase must be actuarially sound. In order for the increased rate to be actuarially sound the claim that triggers the premium surcharge must have an actuarially sound relationship to future risk of loss, otherwise here is no justification for the increase in premium. In other words the claim must in some way increase the future risk of loss commensurate with the increase in premium. Where this relationship does not exist, the premium surcharge rate will necessarily be excessive, inadequate or unfairly
21 customers in rural border regions must travel hours, over mountain roads that may be dangerous or closed in winter, to access network providers. 7
Narrow networks that exclude providers with specialized expertise are a fifth way insurers restrict networks. Narrow network designs can degrade the quality of care delivery, resulting in adverse health outcomes, while also subjecting consumers to unanticipated and potentially devastating financial liabilities. 8 Because of the lack of adequate and accessible specialized care for specific diseases in-network, consumers experience delays in obtaining needed care, or feel compelled to seek out-of-network care, sustaining a cost exposure substantially greater than they had anticipated when they purchased coverage. Such delays in care can result, for example, if a substantial number of network providers in a particular specialty lack privileges to practice at in- network hospitals. 9 Additionally, narrow network designs can result in care delays if network primary care providers cannot find network specialists for referrals; in a survey by the California Medical Association, 55 percent of responding physicians reported experiencing difficulty finding in-network specialists to whom their patients could be referred, particularly in fields that treat patients with chronic conditions, such as cardiology, oncology, and nephrology. 10
There shall be one industry-wide unearned premium reserves ratio and one loss reserves ratio for each line of business. The industry-wide numbers shall be the sum of all such numbers taken from the Californiastate page of the statutory annual statement for all insurers doing business in California. Countrywide adjusting and other expense reserves from Best's Aggregates & Averages shall be allocated to California by loss and defense and cost containment reserves. For medical malpractice, other liability and products liability, California premium and reserves shall be allocated between occurrence and claims-made using countrywide numbers from Best's Aggregates & Averages. The Commissioner shall perform the calculation within 45 days of the publication of the necessary source data. Notwithstanding the result of the calculation, the loss reserves ratio for earthquake shall be 1.0. For other lines of business subject to catastrophes, mass torts and other unusual events, the Commissioner shall modify the industry-wide numbers where he finds that they do not provide a reliable estimate of future expectations of the reserve ratios, pursuant to section 2646.3.
SECTION 2695.191 COMPLIANCE; MITIGATION; PENALTIES
Subdivision (b) contains substantive amendments which have been made in order to comply with the APA’s consistency standard. This subdivision of the Model, which sets forth the
circumstances in which penalties for violations of the regulation may be reduced or eliminated, has been made applicable only as to producers; it has been deleted as to insurers. Instead, with regard to insurers, subdivision (b) states that any applicable penalty under the cited Insurance Code sections "shall be determined pursuant to Article 19 of Subchapter 3 of this Chapter 5, commencing at Section 2591." Section 2591 et seq. were promulgated as mandated by Insurance Code section 12921.1(a)(7), which required that the Commissioner promulgate enforcement guidelines that “set forth appropriate for violations based on the nature, severity, and frequency of the violations." It would violate the consistency standard of the APA to include in section 2695.191 a provision providing that an applicable penalty assessed against an insurer might be reduced if the insurer takes prompt corrective action for the consumer, since the issue of determining penalties to be paid by insurers subject to penalties under Insurance Code
materials, and supplies, based upon the geographic location of the insured structure. The estimate of replacement cost shall be created using such reasonably current sources and methods.
(f) Except as provided in subdivision (k) of this Section 2695.183, the provisions of this article are binding upon licensees, notwithstanding the fact that information, data or statistical methods used or relied upon by a licensee to estimate replacement cost may be obtained through a third party source. Any and all information received by the Department pursuant to this article shall be accorded the degree of confidential treatment required by section 735.5 of the Insurance Code or Chapter 2 of Part 1 of Division 3 of Title 2 of the Government Code, commencing at section 11180.
(d) The estimate of replacement cost shall not include a deduction for physical depreciation.
(e) The A licensee that estimates replacement cost, or that relies upon an estimate of replacement cost produced by another, to set or recommend a policy limit on a homeowners’ insurance policy for an applicant or insured, or to provide to an applicant or insured for his or her consideration, shall no less frequently than annually take reasonable steps to verify that the sources and methods used to generate the estimate of replacement cost are kept current to reflect changes in the costs of reconstruction and rebuilding, including changes in labor, building materials, and supplies, based upon the geographic location of the insured structure. The estimate of
Upon issuance of any completed California Approved Form Endorsement No.11 the insurer must submit such endorsement in triplicate to the Workers' Compensation Insurance Rating Bureau of California. Upon receipt of such Form No. 11 endorsement, the Bureau shall notify the insured in writing, with duplicate copy to be furnished the Division or Industrial Accidents, of the nature of the limitation or restriction. Such notification shall also inform the insured that in the event of a claim arising within the scope of the limitations, which the Division of Industrial Accident should hold to be compensable, the employer would be directly liable under the law and not protected by the policy. Such endorsement shall then be transmitted to the Insurance Commissioner.
These regulations are promulgated pursuant to authority granted to the Insurance Commissioner under the provisions of Section 11761 of the CaliforniaInsurance Code.
The purpose of these regulations is to set forth the minimum standards of training, experience, and skill that workers' compensation claims adjusters, including adjusters working for medical billing entities, must possess to perform their duties with regard to workers' compensation claims and to specify how insurers must meet and certify those standards to the Insurance Commissioner.
Guidelines for installation of accelerographs:
1. General. The preferred locations for the instruments are in small, seldom-used rooms or closets near a column (in a vertically aligned stack), with adequate space to mount the instrument and an approved protective enclosure securely to the floor. The proposed locations shall be marked on the floor plans and submitted to DBI for approval and transmittal to CSMIP. Each instrument requires AC power and a dial-up telephone line is required at the base-level instrument.
2. Summary of Significant Accounting Policies, page F-8 Solar Energy Systems, net, page F-10
18. We note the revisions you made within MD&A in response to comment 14 in our letter dated May 28, 2015. However, you continue to use a 30 year life for the purposes of calculating the estimated retained value measure, which is inconsistent with your accounting for these systems by depreciating over a 20 year life. Further, your disclosures on page 59 state that all of your customer agreements contain an option to renew the contract for an additional 10 years, to purchase the system, or to have you remove the system. It is unclear why a
∙ Charting, fundamental data and stock metric screening tool
∙ Consulting regarding legal and regulatory issues facing portfolio companies
∙ Industry volume, sales and pricing data for portfolio companies
Directed Brokerage for Soft‐Dollar Services: Forward Management will not enter into any agreement or understanding with a broker‐dealer that would obligate Forward Management to direct a specific amount of brokerage transactions or commissions in return for such research (or brokerage) services. Nonetheless, certain broker‐dealers may state in advance the amount of brokerage commissions they require for certain services and the applicable cash equivalent. In some cases, Forward Management may enter into a commission sharing arrangement pursuant to which soft dollars generated are held in an account for the benefit of Forward Management, and credits from that account may be used to acquire soft‐dollar items. Forward Management also may, but is not obligated to, pay cash for soft‐dollar items.
Charting, fundamental data and stock metric screening tool
Consulting regarding legal and regulatory issues facing portfolio companies Industry volume, sales and pricing data for portfolio companies
Directed Brokerage for Soft Dollar Services: Forward Management will not enter into any agreement or understanding with a broker dealer that would obligate Forward Management to direct a specific amount of brokerage transactions or commissions in return for such research (or brokerage) services. Nonetheless, certain broker dealers may state in advance the amount of brokerage commissions they require for certain services and the applicable cash equivalent. In some cases, Forward Management may enter into a commission sharing arrangement pursuant to which soft dollars generated are held in an account for the benefit of Forward Management, and credits from that account may be used to acquire soft dollar items. Forward Management also may, but is not obligated to, pay cash for soft dollar items.
iii. The UC Berkeley Lagune Street Campus
UC Berkeley has announced its intention to take its Laguna Street Campus out of active use as a UC Extension facility. A Request For Qualifications has been released by the University, which solicits proposals from private entities for the redevelopment of the site with a mix of housing for UC staff and the public, ground-floor retail and replacement facilities for the UCSF Dental clinic. The site would be made available to a private developer through a long-term ground lease.
A. Balance sheet lenders vs. marketplace lenders
Many online lenders finance loans with their own equity and/or borrowed capital before reselling these loans to investors either privately or through the securitization markets. We refer to these lenders as non-bank balance sheet lenders and not as marketplace lenders, as they do not facilitate a marketplace (as defined above). While this method has its merits, it is different in nature from the business model of true marketplaces such as those operated by Lending Club or Prosper. The marketplace operator lists loan applications that meet certain underwriting standards, established by a banking partner in some cases. These approved applications are shown to investors along with risk ratings, and investors decide which loans to invest in. The structure of a marketplace with an issuing bank brings with it regulatory scrutiny at the federal level (SEC, OCC, FDIC, CFPB, FTC) and state level through applicable state agencies and the issuing bank itself, as well as daily acceptance testing by thousands of users. In addition, each category of institutional investor brings a layer of additional due diligence, scrutiny, and controls. These investors include banks, investment advisors, hedge funds, endowments, and pension funds, which bring the following additional levels of oversight:
"Every man should be allowed to love two cities – his own and SanFrancisco," once said author Gene Fowler. SanFrancisco, also known as the City by the Bay, is a diverse, colorful, and intriguing destination luring visitors from all corners of the world with its beauty, culture, history and dynamic ambiance. It is best known for its steep hills, beautiful panoramic vistas, and excellent cuisine. The eclectic mix of architecture, sandy beaches, ethnic and cultural diversity, and entertainment for all ages makes SanFrancisco a great choice for vacation.
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353.3(a)(2) and (a)(4).
3. Within 90 days of the effective date of this ORDER, the Bank shall review and revise its written compliance program, as required by the applicable provisions of 12 C.F.R. § 326.8 designed to, among other things, ensure and maintain compliance by the Bank with the BSA and the rules and regulations issued pursuant thereto. The revised program shall ensure that comprehensive BSA compliance reports are provided to the Bank's executive management on a monthly basis. Such program and its implementation shall be in a manner acceptable to the Regional Director of the FDIC's SanFrancisco Regional Office (“Regional Director”) and the Commissioner, CDFI (“Commissioner”) as determined at subsequent examinations and/or visitations of the Bank. At a minimum, the program shall: