CDI Releases Frequently Asked Questions on AB 98 (Assessment for CA Seismic Safety Commission)

Publish Date:Aug 12, 2013
Summary:
As part of the budget deal, AB 98 was passed which would require assessments on personal and commercial properties to fund the California Seismic Safety Commission.

commercial properties to fund the California Seismic Safety Commission.  Although the assessment is not required until August 1, 2014, ACIC received numerous inquiries about AB 98’s implementation.   ACIC requested that CDI develop some kind of FAQ to help guide insurers on programmatic changes required under the law.  This week ACIC received CDI’s FAQ.  To access the FAQ, use this link:

http://www.acicnet.org/hot-topics/2013/08/12/ab-98-faq-released-by-cdi

Should you have follow up inquiries, the CDI contact person is Julia Cross ((916) 492-3264/ julia.cross@insurance.ca.gov).

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