The director shall, in consultation with, and approval of the Department of Insurance, do all of the following:
(a) Contract with an insurer or insurers to provide any resident catastrophic health insurance.
(b) Inform residents of the availability of catastrophic health insurance.
(c) Provide oversight for all contract obligations of the insurer.
(d) Approve all advertising and marketing materials used by an insurer in connection with catastrophic health insurance provided under this chapter in order to ensure accuracy and fairness. The advertising standards used shall be those set out in Section 1360.
(e) Determine the cost of the oversight function and make provisions to cover all administrative costs.
(Added by Stats. 1995, Ch. 415, Sec. 8. Effective January 1, 1996.)