§ 80755

The secretary shall evaluate the extent to which each proposal submitted pursuant to Section 80750 meets the objectives of the request for proposal and shall also evaluate each proposal and interested party using all of the following factors:

(a) Product pricing.

(b) Claims history.

(c) Underwriting history.

(d) Company financial strength and size.

(e) Scope of policy coverages, including endorsements and exclusions.

(f) Marketing and distribution of the insurance products.

(g) Any other factor that the secretary determines will affect the ability of the selected insurance company to meet the requirements of this chapter and provide the environmental insurance products in the most effective and efficient manner and at the least cost to the state and to persons seeking that insurance.

(Added by Stats. 2022, Ch. 257, Sec. 2. (AB 2293) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 4 of Stats. 2022, Ch. 257.)