§ 703.1
305 words·~1 min read·
/ca/insurance-code/703-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Any nonadmitted insurer that is an eligible surplus line insurer pursuant to Section 1765.1 may advertise in all media, provided that all of the following apply:
(1)the insurer’s unlicensed status in California is disclosed in type of a size no smaller than any telephone number, address, or fax number appearing in the advertisement or solicitation,
(2)the advertisement does not contain any assertion, representation, or statement with respect to the business of insurance or with respect to any person in the conduct of his or her insurance business, that is untrue, deceptive, or misleading, and that is known, or that by the exercise of reasonable care should be known, to be untrue, deceptive, or misleading,
(3)the advertisement does not contain any information about the nonadmitted insurer’s premiums or rates, and
(4)no specific product shall be advertised in a newspaper of general circulation, in a television or radio broadcast, or in a news magazine of general circulation.
(b)Any nonadmitted insurer that is not an eligible surplus line insurer pursuant to Section 1765.1 may advertise in all media, except for media that are targeted primarily at insureds or prospective insureds residing in California, provided that all of the conditions set forth in subdivision
(a)are complied with and the advertisement does not contain any information about the insurer’s specific products.
(c)A group of nonadmitted insurers may advertise to the same extent as a nonadmitted insurer, subject to the same requirements set forth in subdivision
(a)or (b), as applicable.
(d)An eligible nonadmitted insurer that is a member of a group of insurers may include the name of the group in advertisements that are authorized by this section.
(e)The permission to advertise granted by this section shall not be deemed to authorize an insurer to do business in this state.