Bill > AB234

This bill modifies the governance of the California FAIR Plan Association, a joint reinsurance organization that provides property insurance to individuals unable to obtain coverage through traditional insurance channels. Specifically, the bill requires the Speaker of the Assembly and the Chairperson of the Senate Committee on Rules to serve as nonvoting, ex officio members of the association's governing committee, with the ability to name a designee in their place. The bill's urgency is driven by California's ongoing challenges with catastrophic wildfires, which have made property insurance increasingly difficult to obtain through normal market channels. By adding legislative leadership to the governing committee, the bill aims to increase transparency and oversight of the FAIR Plan Association, which has become a critical insurance resource for many Californians facing limited insurance options. The bill declares itself an urgency statute, meaning it will take effect immediately upon passage, reflecting the immediate need to address the state's property insurance challenges.

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