Silvers v. Board of Equalization

Opinion

KUMAR, J. *

I. INTRODUCTION

Two categories of insurance carriers provide property and casualty insurance in California: insurers licensed by the Department of Insurance (DOI) and “surplus line insurers.” Licensed insurers, also known as “admitted insurers,” have a presence in California, have full access to the insurance market, and are statutorily “entitled to transact insurance business” in California (Ins. Code, § 24). On the other hand, surplus line insurers, a subset of the “nonadmitted” insurance market, are not licensed by California and have no presence in California. Although a…