CALIFORNIA LEGISLATURE 20212022 REGULAR SESSION Senate Bill No. 11Introduced by Senator RubioDecember 07, 2020 An act to add and repeal Chapter 12 (commencing with Section 10109) of Part 1 of Division 2 of the Insurance Code, relating to insurance. LEGISLATIVE COUNSEL'S DIGESTSB 11, as introduced, Rubio. Residential property insurance: ratemaking strategies.The Insurance Rate Reduction and Reform Act of 1988, an initiative measure enacted by Proposition 103, as approved by the voters at the November 8, 1988, statewide general election, prohibits specified insurance rates from being approved or remaining in effect that are excessive, inadequate, unfairly discriminatory, or otherwise in violation of the act. The act requires an insurer that wishes to change a rate to file a complete rate application with the Insurance Commissioner, as specified.This bill would require the commissioner to convene a stakeholder group of expert parties to identify ways to measure and incorporate various fire damage mitigation strategies into the homeowners insurance ratemaking process and to report the groups findings to the Legislature no later than December 31, 2023.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Chapter 12 (commencing with Section 10109) is added to Part 1 of Division 2 of the Insurance Code, to read: CHAPTER 12. Ratemaking Strategies10109. (a) The commissioner shall convene a stakeholder group of expert parties to identify strategies for measuring and incorporating various community mitigation, vegetation management, and fire resiliency strategies into the homeowners insurance ratemaking process.(b) The commissioner shall report the stakeholder groups findings to the Legislature no later than December 31, 2023. The report shall be submitted in compliance with Section 9795 of the Government Code.10109.1. This chapter shall remain in effect only until January 1, 2026, and as of that date is repealed.
CALIFORNIA LEGISLATURE 20212022 REGULAR SESSION Senate Bill No. 11Introduced by Senator RubioDecember 07, 2020 An act to add and repeal Chapter 12 (commencing with Section 10109) of Part 1 of Division 2 of the Insurance Code, relating to insurance. LEGISLATIVE COUNSEL'S DIGESTSB 11, as introduced, Rubio. Residential property insurance: ratemaking strategies.The Insurance Rate Reduction and Reform Act of 1988, an initiative measure enacted by Proposition 103, as approved by the voters at the November 8, 1988, statewide general election, prohibits specified insurance rates from being approved or remaining in effect that are excessive, inadequate, unfairly discriminatory, or otherwise in violation of the act. The act requires an insurer that wishes to change a rate to file a complete rate application with the Insurance Commissioner, as specified.This bill would require the commissioner to convene a stakeholder group of expert parties to identify ways to measure and incorporate various fire damage mitigation strategies into the homeowners insurance ratemaking process and to report the groups findings to the Legislature no later than December 31, 2023.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: YES Local Program: NO
CALIFORNIA LEGISLATURE 20212022 REGULAR SESSION
Senate Bill
No. 11
Introduced by Senator RubioDecember 07, 2020
Introduced by Senator Rubio
December 07, 2020
An act to add and repeal Chapter 12 (commencing with Section 10109) of Part 1 of Division 2 of the Insurance Code, relating to insurance.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 11, as introduced, Rubio. Residential property insurance: ratemaking strategies.
The Insurance Rate Reduction and Reform Act of 1988, an initiative measure enacted by Proposition 103, as approved by the voters at the November 8, 1988, statewide general election, prohibits specified insurance rates from being approved or remaining in effect that are excessive, inadequate, unfairly discriminatory, or otherwise in violation of the act. The act requires an insurer that wishes to change a rate to file a complete rate application with the Insurance Commissioner, as specified.This bill would require the commissioner to convene a stakeholder group of expert parties to identify ways to measure and incorporate various fire damage mitigation strategies into the homeowners insurance ratemaking process and to report the groups findings to the Legislature no later than December 31, 2023.
The Insurance Rate Reduction and Reform Act of 1988, an initiative measure enacted by Proposition 103, as approved by the voters at the November 8, 1988, statewide general election, prohibits specified insurance rates from being approved or remaining in effect that are excessive, inadequate, unfairly discriminatory, or otherwise in violation of the act. The act requires an insurer that wishes to change a rate to file a complete rate application with the Insurance Commissioner, as specified.
This bill would require the commissioner to convene a stakeholder group of expert parties to identify ways to measure and incorporate various fire damage mitigation strategies into the homeowners insurance ratemaking process and to report the groups findings to the Legislature no later than December 31, 2023.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Chapter 12 (commencing with Section 10109) is added to Part 1 of Division 2 of the Insurance Code, to read: CHAPTER 12. Ratemaking Strategies10109. (a) The commissioner shall convene a stakeholder group of expert parties to identify strategies for measuring and incorporating various community mitigation, vegetation management, and fire resiliency strategies into the homeowners insurance ratemaking process.(b) The commissioner shall report the stakeholder groups findings to the Legislature no later than December 31, 2023. The report shall be submitted in compliance with Section 9795 of the Government Code.10109.1. This chapter shall remain in effect only until January 1, 2026, and as of that date is repealed.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Chapter 12 (commencing with Section 10109) is added to Part 1 of Division 2 of the Insurance Code, to read: CHAPTER 12. Ratemaking Strategies10109. (a) The commissioner shall convene a stakeholder group of expert parties to identify strategies for measuring and incorporating various community mitigation, vegetation management, and fire resiliency strategies into the homeowners insurance ratemaking process.(b) The commissioner shall report the stakeholder groups findings to the Legislature no later than December 31, 2023. The report shall be submitted in compliance with Section 9795 of the Government Code.10109.1. This chapter shall remain in effect only until January 1, 2026, and as of that date is repealed.
SECTION 1. Chapter 12 (commencing with Section 10109) is added to Part 1 of Division 2 of the Insurance Code, to read:
### SECTION 1.
CHAPTER 12. Ratemaking Strategies10109. (a) The commissioner shall convene a stakeholder group of expert parties to identify strategies for measuring and incorporating various community mitigation, vegetation management, and fire resiliency strategies into the homeowners insurance ratemaking process.(b) The commissioner shall report the stakeholder groups findings to the Legislature no later than December 31, 2023. The report shall be submitted in compliance with Section 9795 of the Government Code.10109.1. This chapter shall remain in effect only until January 1, 2026, and as of that date is repealed.
CHAPTER 12. Ratemaking Strategies10109. (a) The commissioner shall convene a stakeholder group of expert parties to identify strategies for measuring and incorporating various community mitigation, vegetation management, and fire resiliency strategies into the homeowners insurance ratemaking process.(b) The commissioner shall report the stakeholder groups findings to the Legislature no later than December 31, 2023. The report shall be submitted in compliance with Section 9795 of the Government Code.10109.1. This chapter shall remain in effect only until January 1, 2026, and as of that date is repealed.
CHAPTER 12. Ratemaking Strategies
CHAPTER 12. Ratemaking Strategies
10109. (a) The commissioner shall convene a stakeholder group of expert parties to identify strategies for measuring and incorporating various community mitigation, vegetation management, and fire resiliency strategies into the homeowners insurance ratemaking process.(b) The commissioner shall report the stakeholder groups findings to the Legislature no later than December 31, 2023. The report shall be submitted in compliance with Section 9795 of the Government Code.
10109. (a) The commissioner shall convene a stakeholder group of expert parties to identify strategies for measuring and incorporating various community mitigation, vegetation management, and fire resiliency strategies into the homeowners insurance ratemaking process.
(b) The commissioner shall report the stakeholder groups findings to the Legislature no later than December 31, 2023. The report shall be submitted in compliance with Section 9795 of the Government Code.
10109.1. This chapter shall remain in effect only until January 1, 2026, and as of that date is repealed.
10109.1. This chapter shall remain in effect only until January 1, 2026, and as of that date is repealed.