April 16: Letters of support needed for Senate Bill (SB) 534

Veteran Business Supporter,

California Insurance Commissioner Ricardo Lara is sponsoring a critical diversity bill introduced by Senator Steven Bradford: Senate Bill (SB) 534.

As an extension of the original insurance supplier diversity bill AB 53, SB 534 focuses on supplier and governing board diversity and seeks to:

  • Require insurance companies to report on their supplier diversity and governing board diversity efforts
  • Expand the diverse supplier categories to include LGBT and veteran-owned businesses
  • Codify the Insurance Diversity Task Force, an advisory board for the Commissioner and Department

With laws requiring Californians to purchase many types of insurance, such as automobile and health insurance, insurers collect $310 billion a year in premiums in California – yet have only scratched the surface when it comes to procuring goods and services from diverse businesses, or having governing boards that mirror the diversity of California. SB 534 will assess insurer progress and support the Insurance Diversity Initiative’s mission to increase supplier and board diversity.

Please show your support for SB 534 by sending your letters of support!

FOR YOUR REFERENCE:

  • The SB 534 Fact Sheet and template support letter for the Senate Judiciary committee is attached to this correspondence for your convenience.

IMPORTANT DEADLINES & HOW TO SUBMIT YOUR LETTER OF SUPPORT:

  1. SENATE JUDICIARY COMMITTEE DEADLINE for LETTERS of SUPPORT -SUBMIT by 5:00 PM (PST) on Tuesday, April 16, 2019 
  • E-MAIL: For your convenience, you may e-mail an electronic copy to:diversity@insurance.ca.gov by Tuesday, April 16, 2019 @ 5:00 PM (PST) and we will submit it for you.
  • HARD COPY MAILING: If you plan to send your Senate Judiciary Committee letter of support via hard copy, the letter must arrive on or before April 16, 2019.
    • Please note that this is not a postmark deadline, but a delivery deadline. Please also ensure that you e-mail an electronic copy to: diversity@insurance.ca.gov by Tuesday, April 16, 2019 @ 5:00 PM (PST).
  • LETTER TEMPLATE: Senate Judiciary Committee Letter of Support Template (above) addressed to the Chair of the Senate Judiciary Committee:

ATTN: The Honorable Hannah-Beth Jackson

Chair, Senate Judiciary Committee

State Capitol, Room 2187

Sacramento, CA 95814

We realize that this is a limited turn-around period, so we would greatly value and appreciate your support!

 

If you have any questions, please contact: diversity@insurance.ca.gov.

INSURANCE DIVERSITY INITIATIVE (IDI)

Office of Insurance Commissioner Ricardo Lara

Community Programs, Research and Outreach Branch

California Department of Insurance

(916) 492-3623 | p

Diversity@insurance.ca.gov

www.insurance.ca.gov/Diversity

2019-04-14T18:00:01-07:00April 14th, 2019|Categories: News|