CA | The California Department of Insurance has issued Bulletin 2024-3.
California Insurance Code (CIC) section 10489.992(b)(1) authorizes the Insurance Commissioner to annually assess each life insurance company, based on the company’s gross annual life insurance premium written in California in the preceding year. The intent of the assessment is to defray the costs of principle-based reserving (PBR) valuation and provide a prudent reserve in the PBR fund.
