Bill > AB69

This bill addresses policy renewals for the California FAIR Plan, which is a joint reinsurance association that provides basic property insurance to individuals who cannot obtain coverage through traditional insurance markets. The bill requires brokers of record to actively investigate whether a FAIR Plan policy can be transferred to a voluntary market insurance company before renewing the policy. Additionally, the FAIR Plan must provide policyholders with a prominent notice (in 14-point bold font) at least annually, including with initial policy issuance and renewals, that encourages policyholders to contact their broker about potentially finding alternative insurance coverage. The notice must specifically inform policyholders that they have the right to shop around, that insurance markets change regularly, and recommend using resources like the California Department of Insurance Home Insurance Finder to explore other insurance options. The goal of these provisions is to help policyholders potentially move out of the FAIR Plan and into more comprehensive voluntary market insurance when possible.

Budget and Finance, Business and Industry

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB69