Jun. 27, 2025
Committee approves California FAIR Plan bond
Senate committee approves bills enabling California's FAIR Plan to issue bonds, enhance oversight, and address wildfire risks, while also easing insurance broker licensing to boost workforce diversity.
California's home insurer of last resort is one step closer to being able to sell bonds to stay solvent following a Senate Insurance Committee vote.
The brief, 17-minute hearing on Wednesday afternoon also included a vote on a bill that signals state policymakers now consider fires to be on par with California's other signature disaster: earthquakes. AB 234 would add the speaker of the Assembly and the chair of the Senate Rules Committee as non-voting members of the Calif...
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