California Insurance Code 1855.3 – Two or more insurers may cooperate with and act in concert with …
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Two or more insurers may cooperate with and act in concert with others as members of an advisory organization with respect to any matters pertaining to the preparation or making of insurance policy or bond forms, or manuals, or carrying on of research relative to the preparation and development of policy or bond forms, or manuals.
(Amended by Stats. 1991, Ch. 880, Sec. 6.)
Terms Used In California Insurance Code 1855.3
- advisory organization: means every group, association, or other organization of insurers, whether located within or outside of this state, that develops and prepares policy or bond forms, or manuals, for use by admitted insurers, carries on research relative to the development and preparation of policy and bond forms, and acts in an advisory, as distinguished from a ratemaking, capacity. See California Insurance Code 1855.2