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Inventory of the Dept. of Insurance Records
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Collection Details
Table of contents What's This?
  • Descriptive Summary
  • Administrative Information
  • Agency History

  • Descriptive Summary

    Title: Dept. of Insurance Records
    Inventory: F3720
    Creator: Dept. of Insurance
    Repository: California State Archives
    Sacramento, California
    Language: English.

    Administrative Information

    Publication Rights

    For permission to reproduce or publish, please contact the California State Archives. Permission for reproduction or publication is given on behalf of the California State Archives as the owner of the physical items. The researcher assumes all responsibility for possible infringement which may arise from reproduction or publication of materials from the California State Archives collections.

    Preferred Citation

    [Identification of item], Dept. of Insurance Records, F3720, California State Archives.

    Agency History

    The Division of Insurance was created in 1929 within the Department of Investment (ch. 277) as a federation of five independent departments in order that these agencies might be represented on the Governor's Council. The word division was substituted for department in the title of these agencies to make the form of organization correspond with that of other state departments. Each division remained an autonomous unit, with no change of organization resulting from the creation of the Department of Investment.
    The divisions within the Department of Investment included: Banking, Corporations, Insurance, Real Estate, and Building and Loan Supervision. The Superintendent of Banks, and the Commisssioners of Corporations, Insurance, Real Estate, and Building and Loans constituted a Board of Investment whereupon the board chairman, a rotating position, became known as the Director of Investment.
    The Insurance Commissioner was designated as administrative head of the Division of Insurance and served as a member on the Board of Investment. The Division of Insurance became a department in 1941 (ch. 1180) and remained under the control of the Insurance Commissioner.
    The responsibilities of the Department of Insurance include; regulating insurance companies for solvency through periodic audits and surveillance of their annual reports, granting or denying security permits to applying insurance and title companies, reviewing and approving or disapproving insurance policies, establishing rates and rules for Workmen's Compensation Insurance, regulating compliance with general rating law, acting as receiver of insurance companies beset with financial or other difficulties, and maintaining offices in San Francisco, Sacramento, Los Angeles, and San Diego to receive complaints from the public concerning insurance claims or misconduct of agents or brokers. Investigations are conducted by the department as a result of these complaints.
    From 1941 until 1949, the Department of Insurance reorganized internally several times. The divisions within the department were Administration (actuarial and insurance rate regulation), Compliance and Legal (compliance, policy complaints, investigation, and disciplinary preceedings), Examination and Financial analysis, Licenses (issuance and examination qualification) and Conservations and Liquidations.
    This finding aid consists of two parts: Part I includes papers of Department of Investment, Division of Insurance, 1923-24,32-40 and Part II includes papers of the Department of Insurance, 1938-66,69. Records dated 1938-39 which originated prior to the creation of Department of Insurance were contained in the Subject Files, Department of Finance relating to auditing of the departments books and records and in the Hearing Transcripts regarding licensing of insurance agents and group disability insurance.