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AB-2161 Parking lots: design: insurance discount.(2015-2016)

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Assembly Bill No. 2161
CHAPTER 73

An act to add Chapter 6 (commencing with Section 11895) to Part 3 of Division 2 of the Insurance Code, relating to parking lots.

[ Approved by Governor  July 22, 2016. Filed with Secretary of State  July 22, 2016. ]

LEGISLATIVE COUNSEL'S DIGEST


AB 2161, Quirk. Parking lots: design: insurance discount.
Existing law provides that building standards shall be filed by the California Building Standards Commission with the Secretary of State and codified only after they have been approved by the commission. Existing law regulates the issuance and renewal of liability insurance policies in this state.
This bill would authorize an insurer to consider the installation of vehicle barriers as a safety measure and would authorize an insurer to provide or offer a discount on the property owner’s insurance covering damage or loss to the covered commercial property or liability arising out of the ownership, maintenance, or use of the commercial property relative to the reduced risk of installation of the barriers. The bill would require that any discounts be determined to be actuarially sound and approved by the Insurance Commissioner prior to their use.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

(c) Any discounts on insurance provided in accordance with this section shall be determined to be actuarially sound and approved by the commissioner prior to their use.