California FAIR Plan Association governing committee.
Vote required
Two Thirds
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill changes the California FAIR Plan Association’s governing committee by requiring the Speaker of the Assembly and the Chairperson of the Senate Committee on Rules to serve as nonvoting, ex officio members, with the ability to appoint a designee. It also adds representatives from insurance agents, brokers, surplus line brokers, and the public to the committee. The bill was passed as an urgency statute due to concerns about the association’s capacity to handle claims after catastrophic events, and the increasing difficulty Californians face in obtaining property insurance.
Key provisions
- Requires the Speaker of the Assembly and Senate Rules Committee Chair to be nonvoting, ex officio members of the governing committee.
- Allows designated representatives from insurance agents, brokers, and surplus line brokers to serve on the committee.
- Authorizes the Governor to appoint a public representative to the committee.
- The governing committee will consist of nine insurers elected annually.
- Excludes premiums from automobile risks, commercial agricultural commodities, and equipment used in agriculture.
- Allows for assessment of members to operate the facility and establishes maximum liability limits.
Who is affected
- Insurance Insurers
- Insurance Agents
- Insurance Brokers
- Surplus Line Brokers
- California Residents
Notable changes
Bill text
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