Bill > AB2301

This bill amends Section 1063.1 of the Insurance Code to clarify definitions related to the California Insurance Guarantee Association (CIGA), which is a fund established to protect policyholders when an insurance company becomes insolvent (unable to pay its debts). The bill specifically aims to refine the definition of "covered claims," which are the types of losses CIGA will pay for when an insurer fails. While the bill doesn't introduce entirely new concepts, it clarifies existing language to ensure a more consistent application of CIGA's protections, particularly concerning certain types of insurance policies and the responsibilities of self-insured employers and the Self-Insurers' Security Fund in workers' compensation cases.