12. The full legal name, address, and telephone number of each person who markets your company`s vehicle maintenance contract program to California dealers. Please also include the name of the corporation or the fictitious legal name of a corporation with which one of these individuals is affiliated or employed. The Act amends the “Free Look” period provision for the review of a VSC by requiring that each contract include a Free Look provision that allows the purchaser to return the contract to the supplier within 20 business days of the date of shipment of the contract or the date of purchase if the contract is signed and delivered at the time of sale. If a claim is claimed under the contract during the Free Look period, the supplier shall refund the full purchase price minus any claims paid. The legislation also states that a VSC must state that a service contractor may terminate the contract at any time after the expiration of the Free Look period and that the provider must reimburse 100% of the VSC`s unearned costs on a pro-rata basis minus any claims paid. A reasonable administration fee may be charged by the supplier of up to $50. The final version of the law clarifies that the consumer is entitled to a contractual penalty of 10% if a supplier does not refund the amount owed to the consumer within 45 days if a VSC is returned by a consumer under the “Free Look” provision. 10.
Copies of all other agreements, other than those filed in response to Section 3, between your company and another company regarding marketing, earnings collection and transfer, reservations, claims administration, or any other aspect of the proposed third-party debit service contract program in California. Under the legislation, a supplier is required to maintain a “registry” of designated producers of CSV who are entitled to sell such contracts in the state. Within 30 days of a supplier authorizing a producer to sell its VSC contracts, the supplier must register the manufacturer`s name and license number in the register of companies of named VSC producers. Within 30 days of the end of a manufacturer`s appointment by a supplier, the supplier must update the register with the effective date of termination. By law, suppliers who have information about a reason for a designated producer`s discipline must provide that information to the Director in writing. `vehicle maintenance contract` means a contract or agreement for specified consideration, for a specified period of time, for the repair, replacement or maintenance of a motor vehicle or boat, or for compensation for the repair, replacement or maintenance of a motor vehicle or boat due to an operational or structural failure due to a defect in materials or workmanship; or due to normal wear and tear. A vehicle service contract may also provide for the ancillary payment of compensation in certain circumstances only in the form of the following additional services: towing coverage, replacement transportation, emergency service, reimbursement of car rental, protection against road risks, reimbursement of deductibles under the manufacturer`s warranty and reimbursement of travel, accommodation or meals. The “vehicle maintenance contract” also includes an agreement against separately declared consideration that promises the buyer repairs at a discount of more than 20% for each combination of parts and labour. The Insurance Commissioner may request additional documentation to assist the ISC in determining whether the applicant meets the licensing requirements.
[Internal Code §1666]. Upon request, all documents must be sent to the following address: The term of the first certificate begins on the date of issue of the certificate and ends on the last day of the same calendar month two years later. All additional licences will be issued for the remainder of the specified period. 14. The number of vehicle maintenance contracts your company has sold to California residents in the past twelve months. 2. Either a copy of your VSCP license or application. California Code, Section 12815(a). 9.
Copies of any agreement entered into by your company or any of its officers, directors or shareholders with any insurer in the company`s service contracts program or with a general agent of that insurer. Please provide the language, formula or table used to calculate the amount your business must transfer to the insurer for different types and terms of service contracts. The final version of this legislation prohibits an extended automotive contract provider from not delivering a fully executed VSC to the consumer within an “economically feasible period of time”, defined as not exceeding 45 days from the date of purchase. An earlier version of this law allowed only 30 days. The legislation also prohibits any seller, administrator or retail seller selling such contracts from not providing the consumer with an unsigned copy (sample) of the VSC upon request prior to sale. Sellers would be allowed to direct the consumer to a website containing an unsigned copy of the VSC. 4. If you enter into a contract with an administrator, you must submit a copy.
The renewal notice will be sent approximately 90 days prior to the license expiration date by eRenewal to the registered email address. If the renewal has not been received, please complete Form LIC 448-29A for Single Permit Renewal or Form LIC 448-29B for Business Unit License Renewal and send the completed form to the California Department of Insurance, PO Box 311, Sacramento, California 95812-0311. 13. The names, addresses, and phone numbers of all California dealers that currently issue your company`s vehicle maintenance contracts. UPDATE – Senate Bill 132 was submitted to the Governor on May 26, 2011 and is expected to be signed. If the new legislation is signed, it will come into force on January 1, 2012 and will require the approval of a retail seller of a motor vehicle service contract (VSC) on behalf of a registered VSC provider, unless that vendor is already a motor vehicle manufacturer, a government-insured deposit-taking agency or a lender. This approval may take the form of either an authorized car dealer holding an organizational credit company licence or a restricted line insurance company manufacturer`s licence for the newly amended restricted line of insurance, which would include extended service contracts for motor vehicles. This licensing requirement would extend to an administrator if that administrator also sells or solicits the sale of CST on behalf of a registered debtor provider. Please note that service contracts can only be sold by car dealers associated with the sale or lease of automobiles. [Internal Code §12800(f)] As a result, service contracts cannot be sold directly to consumers via the Internet, telephone or financial institutions. A company that is required by law under the terms of a vehicle maintenance contract and must have a licence from the vehicle service contract provider. 3.
In accordance with California Code Section 12830(a), a copy of the insurance policy that insures your California vehicle maintenance contracts. Please include a copy of the statement page indicating that you are insured showing the effective date and expiration date of the policy, as well as any California-specific supplements (if applicable). The Department will review the policy to ensure it complies with California Code Sections 12830(a)(1)(2)(3), (b), (c), and (d). 5. Proof that your backup insurer complies with California Code Section 12830(a) because it is rated B++ or better by A.M. Best. Back to Producer Licensing Office Forms Main page 8. An explanation of how your organization can comply with Cal. Ins. Sections 12800(f) and 12810 of the Code.
Federal law (18 U.S.C. § 1033) prohibits any person convicted of a crime of dishonesty or breach of trust from engaging in insurance business without the written consent of the Insurance Commissioner. Carrying on insurance business without the written consent of the Commissioner is a violation of this Act. If you have been convicted of a crime involving dishonesty or breach of trust, you must attach a copy of this consent. If you have not received this written consent, you must do so by filing an abbreviated request for written consent 1033 before submitting your application. All information and documents you provide pursuant to the requests in paragraphs 4 through 15 will be kept strictly confidential as required by Commissioner and his staff pursuant to California Code Section 12919. 1. In accordance with California Code Section 12830(a), samples of all VSCP forms that you intend to use in California.
The CDI will review the forms to ensure that they comply with California Civil Code Sections 12800(c), 12820(b)(1)(2)(3)(A)(B)(C)(D)(E), (4) and (c), 12825(a)(b)(c)(d), 12850(a), and California Civil Code Sections 1794.4 and 1794.41. To receive insurance licence forms by mail, send an email request to: Producer Licensing Office. 6. In accordance with Section 12830(a)(1) of the California Business Code, evidence that the audited financial statements have been filed with the Commissioner. The ministry may contact you for more information if it cannot determine whether the requirements of Cal. Ins. Section 12830(a) of the Code must be complied with by your emergency insurer. The department will contact you to obtain the additional documents listed below: **Please DO NOT send documents until the legal department** Insurance Department P.O. Box 1139 Sacramento, CA 95812-1139 *These forms are available in Adobe Portable Document Format (PDF). To view and complete these PDF forms in your browser, you need Adobe Acrobat Reader on your computer.