HomeMy WebLinkAboutMINUTES - 05082012 - C.42RECOMMENDATION(S):
ADOPT Resolution No. 2012/194 approving and authorizing the District Attorney, or designee, to submit an
application and execute a grant award agreement and any extensions or amendments thereof, pursuant to State
guidelines, with the State of California, Department of Insurance for the Life and Annuity Consumer Protection
Program in the amount of $62,490 for the investigation and prosecution of consumer fraud cases, for the period July
1, 2012 through June 30, 2013.
FISCAL IMPACT:
$62,490 of revenue; budgeted, and 100% State funds with no County match. The grant will fund 25% of the salary
and benefits for an attorney assigned to the program.
BACKGROUND:
The State Legislature determined that there is a need to protect consumers of life insurance and annuity products.
While fraud is recognized as a growing problem across the nation, California is an area of concerted criminal activity
in insurance fraud. The Life and Annuity
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 05/08/2012 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
ABSENT:Gayle B. Uilkema, District II
Supervisor
Contact: Cherie Mathisen, 957-2234
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
ATTESTED: May 8, 2012
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C. 42
To:Board of Supervisors
From:Mark Peterson, District Attorney
Date:May 8, 2012
Contra
Costa
County
Subject:Life and Annuity Consumer Protection Program Grant Application
BACKGROUND: (CONT'D)
Consumer Protection Program award is allocated from a trust fund financed by an assessment on each individual
life insurance policy and each individual annuity product with a value of fifteen thousand or more issued to a
resident of the state, paid by the insurer. Of the assessment amount, fifty percent of the funds are distributed to
District Attorney offices for investigating and prosecuting individual life insurance and annuity product financial
abuse cases involving insurance licensees or any persons holding themselves out to be insurance licensees.
ATTACHMENTS
Resolution No. 2012/194