Sacramento Report
February 15 2011
Insurance Company Vendors
Assembly Bill 53 (Solorio) would require admitted insurers with gross annual revenues exceeding $25,000,000, along with their regulated subsidiaries and affiliates, to submit a detailed and verifiable plan to the Insurance Commissioner for increasing procurement from women, minority, and disabled veteran business enterprises. The bill expands upon existing law requiring each admitted insurer to provide information to the Insurance Commissioner on all of its community development investments in California.
