Agenda

Return

C. 38

To:	Board of Supervisors
From:	Mark Peterson, District Attorney
Date:	May 13, 2014

Contra

Costa

County

Subject:

2014/15 Life and Annuity Consumer Protection Program Grant Application

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 05/13/2014

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V 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 13, 2014
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

ADOPT Resolution 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 $87,681 for the investigation and prosecution of consumer fraud cases, for the period of July 1, 2014 through June 30, 2015.

FISCAL IMPACT:

FISCAL IMPACT: (CONT'D)

The District Attorney's office will receive $87,681 of revenue that is100% State funds with no County match.

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 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.