Bill Text: CA AB2416 | 2023-2024 | Regular Session | Introduced

California Assembly Bill 2416

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Residential property insurance: wildfire risk.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed) 2024-08-31 - Ordered to inactive file at the request of Senator Gonzalez. [AB2416 Detail]

Download: California-2023-AB2416-Introduced.html

CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Assembly Bill

No. 2416

Introduced by Assembly Member Connolly

February 13, 2024

An act relating to insurance.

LEGISLATIVE COUNSEL'S DIGEST

AB 2416, as introduced, Connolly. Insurance: residential property insurance: wildfire risk.

Existing law creates the Department of Insurance, headed by the Insurance Commissioner, and prescribes the commissioner’s powers and duties. Existing law generally regulates classes of insurance, including residential property insurance. As it relates to wildfire risk, existing regulations of the department require an insurer’s rating plan to take into account certain wildfire mitigation efforts, including specified building hardening measures and clearing of vegetation.

This bill would state the intent of the Legislature to enact legislation requiring insurers offering residential property insurance in the state to provide discounted insurance rates to homeowners who use or install in their homes building materials that are demonstrated to harden homes and reduce wildfire risk.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

It is the intent of the Legislature to enact legislation to require insurers offering residential property insurance in the state to provide discounted insurance rates to homeowners who use or install in their homes building materials that are demonstrated to harden homes and reduce wildfire risk.