Fabio
90 lines
7.1 KiB
Markdown
90 lines
7.1 KiB
Markdown
---
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type: "Bill"
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title: "Reinsurance."
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description: "Existing law requires every insurer doing business in the state to make and file annual financial statements with the Insurance Commissioner, as specified. Existing law, for the purposes of those financial statements, allows a domestic insurer that cedes reinsurance to an assuming reinsurer to take a credit for the reinsurance as either an asset or a deduction from liability if the reinsurer meets specified requirements. If the reinsurer does not meet those requirements, existing law allows a credit for reinsurance to be taken either as an asset or a deduction from liability in an amount not exceeding the liabilities carried by the ceding insurer to the extent that the ceding insurer provides security in the form of funds or letters of credit, as specified. Existing law authorizes the commissioner to prescribe requirements consistent with those provisions, as specified."
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jurisdiction: "us/states/ca"
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legislature: "California Legislature"
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session: "20172018"
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identifier: "AB 938"
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citation: "California AB 938 (20172018)"
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classification: ["bill"]
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subjects: ["Reinsurance."]
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status: "enacted"
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primary_sponsors: ["Cooley"]
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version_count: 7
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action_count: 24
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vote_count: 4
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first_action: "2017-02-16"
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last_action: "2017-09-01"
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source: "openstates"
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source_identifier: "ocd-bill/4b6dd543-6d4d-4161-a9f7-3f8ece2e0ebe"
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source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201720180AB938"
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source_hash: "dacf57ccab7bfb13a79987cfc020ff45c7288f305094db6cef25dc5d4cd392e0"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-ca"]
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---
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# California AB 938 (20172018) — Reinsurance.
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Existing law requires every insurer doing business in the state to make and file annual financial statements with the Insurance Commissioner, as specified. Existing law, for the purposes of those financial statements, allows a domestic insurer that cedes reinsurance to an assuming reinsurer to take a credit for the reinsurance as either an asset or a deduction from liability if the reinsurer meets specified requirements. If the reinsurer does not meet those requirements, existing law allows a credit for reinsurance to be taken either as an asset or a deduction from liability in an amount not exceeding the liabilities carried by the ceding insurer to the extent that the ceding insurer provides security in the form of funds or letters of credit, as specified. Existing law authorizes the commissioner to prescribe requirements consistent with those provisions, as specified.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **02/16/17 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201720180AB938&version=20170AB93899INT)
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2. **03/13/17 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201720180AB938&version=20170AB93898AMD)
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3. **04/17/17 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201720180AB938&version=20170AB93897AMD)
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4. **04/25/17 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201720180AB938&version=20170AB93896AMD)
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5. **09/01/17 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201720180AB938&version=20170AB93894CHP)
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6. **AB938** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201720180AB938)
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7. **08/25/17 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201720180AB938&version=20170AB93895ENR)
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## Votes
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- Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar — **9–0** (pass) · upper
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- AB 938 COOLEY Consent Calendar Second Day — **69–0** (pass) · lower
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- Consent Calendar 2nd (Urgency Clause) — **38–0** (pass) · upper
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- Do pass. To Consent Calendar. — **17–0** (pass) · lower
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## Sponsors
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- Cooley — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2017-02-16** Read first time. To print. `reading-1`
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- **2017-02-17** From printer. May be heard in committee March 19.
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- **2017-03-02** Referred to Com. on INS. `referral-committee`
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- **2017-03-13** From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended. `amendment-introduction, amendment-passage, reading-2, reading-1`
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- **2017-03-14** Re-referred to Com. on INS. `referral-committee`
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- **2017-04-17** From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended. `amendment-introduction, amendment-passage, reading-2, reading-1`
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- **2017-04-18** Re-referred to Com. on INS. `referral-committee`
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- **2017-04-24** From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 12. Noes 0.) (April 19). `amendment-passage, committee-passage, amendment-introduction`
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- **2017-04-25** Read second time and amended. `reading-1, amendment-passage, reading-2`
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- **2017-04-26** Re-referred to Com. on APPR. `referral-committee`
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- **2017-05-10** From committee: Do pass. To Consent Calendar. (Ayes 17. Noes 0.) (May 10). `committee-passage-favorable, committee-passage`
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- **2017-05-11** Read second time. Ordered to Consent Calendar. `reading-2, reading-1`
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- **2017-05-18** Read third time. Urgency clause adopted. Passed. Ordered to the Senate. (Ayes 69. Noes 0. Page 1618.). `reading-3, passage, reading-1`
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- **2017-05-18** In Senate. Read first time. To Com. on RLS. for assignment. `reading-1`
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- **2017-06-01** Referred to Com. on I., B. & F.I. `referral-committee`
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- **2017-06-28** From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 9. Noes 0.) (June 28). Re-referred to Com. on APPR. `committee-passage-favorable, committee-passage, referral-committee`
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- **2017-07-10** In committee: Hearing postponed by committee.
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- **2017-08-21** From committee: Be placed on second reading file pursuant to Senate Rule 28.8 and ordered to consent calendar. `committee-passage`
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- **2017-08-22** Read second time. Ordered to Consent Calendar. `reading-2, reading-1`
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- **2017-08-24** Read third time. Urgency clause adopted. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 2229.). `reading-3, passage, reading-1`
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- **2017-08-24** In Assembly. Ordered to Engrossing and Enrolling. `committee-passage`
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- **2017-08-30** Enrolled and presented to the Governor at 3:30 p.m.
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- **2017-09-01** Approved by the Governor. `executive-signature`
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- **2017-09-01** Chaptered by Secretary of State - Chapter 202, Statutes of 2017.
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/4b6dd543-6d4d-4161-a9f7-3f8ece2e0ebe`. Confidence: reported (aggregated from official California legislature records).
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