Bill > AB234

This bill modifies the California FAIR Plan Association's governing committee structure by adding the Speaker of the Assembly and the Chairperson of the Senate Committee on Rules as nonvoting, ex officio members. The California FAIR Plan Association is a joint reinsurance organization that helps people obtain basic property insurance when they cannot secure coverage through traditional insurance channels. Under the current law, the governing committee consists of nine insurers elected annually and includes representatives from insurance agents, brokers, surplus line brokers, and the public. The bill allows these new legislative leaders to participate in the committee or name a designee to serve in their place. This change is being proposed in the context of California's ongoing challenges with property insurance availability, particularly in areas prone to catastrophic wildfires, where many consumers are increasingly relying on the FAIR Plan for coverage. The bill is classified as an urgency statute, which means it will take effect immediately upon passage, reflecting the Legislature's view that increased transparency and oversight of the FAIR Plan are critical to addressing the state's property insurance challenges.

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https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB234