(Sacramento, CA)— Assemblymember Lisa Calderon (D-Whittier) highlights important property insurance-related legislation aimed at increasing wildfire resiliency and strengthening California's insurance market.
“I am proud of the hard work my colleagues and I have done this year to stabilize California’s insurance market, " said Assemblymember Calderon, Chair of the Assembly Committee on Insurance. “These pieces of legislation are solutions to improve insurance availability while also complimenting work completed by California’s Insurance Commissioner"
The following three bills authored by Assemblymember Calderon are awaiting action by the Governor:
Assembly Bill 226, joint authored by Assemblymember David Alvarez (D-San Diego), allows the California Fair Access to Insurance Requirements (FAIR) Plan to utilize additional financial tools to ensure their claims paying capacity. Either through the issuance of bonds or a line of credit, this bill strengthens the FAIR Plan’s financial stability.
“AB 226 ensures that Californians can rely on their insurance coverage when they need it most. By strengthening the FAIR Plan, we’re protecting families, safeguarding communities, and preserving access to essential insurance. I’m proud to see this bill advance to the Governor’s desk and urge his signature to stabilize our insurance market and deliver peace of mind to Californians across the state.” –Assemblymember Alvarez
Assembly Bill 234 increases transparency of the FAIR Plan by requiring the Speaker of the Assembly and the Chairperson of the Senate Committee on Rules (or a designee) to serve as members of the FAIR Plan Governing Board. This bill ensures the public has a seat at the table.
Assembly Bill 888, the California Safe Homes Act, establishes a program within the California Department of Insurance to support qualifying applicants with their home wildfire mitigation efforts. Eligible projects include the installation of fire-safe roofs, five-foot defensible space clearing, and community-scale resiliency projects.
“I commend Assemblymember Calderon and her colleagues for their partnership in delivering real solutions. These bills represent meaningful progress in protecting California consumers and making our insurance system more resilient in the face of growing wildfire risk,” said Insurance Commissioner Ricardo Lara. “By increasing transparency, expanding mitigation efforts, and strengthening the FAIR Plan, this legislative package directly addresses the insurance crisis and puts people first.”
Additionally, Assembly Bill 1 authored by Assemblymember Damon Connolly (D-San Rafael), strengthens the Safer from Wildfires program within the California Department of Insurance. Ensuring this program is using the most up-to-date mitigation standards to increase wildfire resiliency.
AB 1 is a critical measure that strengthens incentives for Californians who are hardening their homes,” said Assemblymember Connolly. “I am proud this bill received unanimous, bipartisan support in the Legislature. I hope the Governor recognizes the importance of incentivizing wildfire mitigation by signing AB 1 into law.”
Governor Newsom has until October 13th to sign or veto all bills passed by the Legislature. For more information about Assemblywoman Calderon’s legislative package, please visit her website.
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Contact: Jerika Edwards, Jerika.Edwards@asm.ca.gov