Suzette Martinez Valladares
- Republican
Author
Existing law generally regulates classes of insurance, including homeowners' insurance. Existing law creates the Department of Insurance, headed by the Insurance Commissioner. This bill would require the commissioner to convene a working group, on or before July 1, 2023, to study the feasibility, potential implications, and advisability of allowing admitted insurers to offer homeowners' and commercial property insurance policies that include a deductible for covered losses resulting from wildfires. The bill would require the commissioner to identify industries, including, but not limited to, farming, that have struggled to obtain affordable commercial property coverage due to increased wildfire risk and require the working group to study the utility and risks a commercial policy containing a deductible for wildfire losses could have for these industries. This bill would require the working group to include, among other things, representatives from the insurance industry. The bill would require the commissioner to prepare a report, on or before July 1, 2024, summarizing the working group's findings and recommendations, and to post that report on its internet website.
Vetoed by Governor.
Enrolled and presented to the Governor at 4 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 75. Noes 0.).
Assembly Rule 77(a) suspended.
Read third time. Passed. Ordered to the Assembly. (Ayes 40. Noes 0. Page 4986.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 25 pursuant to Assembly Rule 77.
Ordered to special consent calendar.
Read second time. Ordered to third reading.
Read second time and amended. Ordered returned to second reading.
From committee: Amend, and do pass as amended. (Ayes 7. Noes 0.) (August 11).
From committee: Do pass and re-refer to Com. on APPR with recommendation: To Consent Calendar. (Ayes 11. Noes 0.) (June 22). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on INS.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 76. Noes 0. Page 4936.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 16. Noes 0.) (May 19).
In committee: Set, first hearing. Referred to suspense file.
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 13. Noes 0.) (April 20). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended.
From printer. May be heard in committee March 20.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2450 | HTML |
| 02/17/22 - Introduced | |
| 04/18/22 - Amended Assembly | |
| 06/09/22 - Amended Senate | |
| 08/11/22 - Amended Senate | |
| 08/26/22 - Enrolled |
| Document | Format |
|---|---|
| 04/19/22- Assembly Insurance | |
| 05/10/22- Assembly Appropriations | |
| 05/20/22- ASSEMBLY FLOOR ANALYSIS | |
| 06/20/22- Senate Insurance | |
| 07/29/22- Senate Appropriations | |
| 08/11/22- Senate Appropriations | |
| 08/15/22- Sen. Floor Analyses | |
| 08/23/22- ASSEMBLY FLOOR ANALYSIS | |
| 10/05/22- ASSEMBLY FLOOR ANALYSIS |
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