California Insurance Code

§ 758.7

INS § 758.7 Effective Jan 1, 2005Div. 1 · Part 2 · Ch. 1 · Art. 5.1

Statute text

An insurer, upon receiving notice from an insured, shall reimburse any fees and extra premium charged to an insured due to a late premium payment or a lapse in coverage under the policy if the late payment or lapse in coverage was the result of fraud committed by an agent or broker licensed pursuant to this code and one of the following has occurred:

(a)The agent or broker has been convicted of fraudulent activity in court.

(b)An administrative penalty has been imposed on the agent or broker for fraudulent activity.

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Legislative history

Added by Stats. 2004, Ch. 160, Sec. 1. Effective January 1, 2005.