CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION Assembly Bill No. 493Introduced by Assembly Member HarabedianFebruary 10, 2025 An act to amend Section 5093 of the Insurance Code, relating to property insurance. LEGISLATIVE COUNSEL'S DIGESTAB 493, as introduced, Harabedian. Property insurance: notice of cancellation.Under existing law, 250 or more persons residing in one county may incorporate for purposes of forming a mutual fire insurer, subject to specified criteria. Existing law authorizes a person with an insurable interest in property in the county in which a mutual fire insurer is formed, or an interest in property in an adjoining county, to become a member by insuring in that county. Existing law authorizes any member of a mutual fire insurer to withdraw by surrendering their policy for cancellation. Existing law authorizes the insurer to cancel a policy by giving 20 days written notice to the insured, with or without the excess of the paid premium.This bill would make technical, nonsubstantive changes to the provision that authorizes an insurer to cancel a policy by giving 20 days written notice, as specified.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 5093 of the Insurance Code is amended to read:5093. The insurer may cancel any policy by giving the insured 20 days written notice of cancellation with or without tender of the excess of paid premium above the pro rata premium for the expired time, which time. The excess, if not tendered, shall be refunded on demand. Notice of cancellation shall state that the excess premium (if not tendered) will premium, if not tendered, shall be refunded on demand. The notice may be served in person or by mail, addressed either to the members last post office address or, if this is not known, to the address given upon the application which that is part of the policy.
CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION Assembly Bill No. 493Introduced by Assembly Member HarabedianFebruary 10, 2025 An act to amend Section 5093 of the Insurance Code, relating to property insurance. LEGISLATIVE COUNSEL'S DIGESTAB 493, as introduced, Harabedian. Property insurance: notice of cancellation.Under existing law, 250 or more persons residing in one county may incorporate for purposes of forming a mutual fire insurer, subject to specified criteria. Existing law authorizes a person with an insurable interest in property in the county in which a mutual fire insurer is formed, or an interest in property in an adjoining county, to become a member by insuring in that county. Existing law authorizes any member of a mutual fire insurer to withdraw by surrendering their policy for cancellation. Existing law authorizes the insurer to cancel a policy by giving 20 days written notice to the insured, with or without the excess of the paid premium.This bill would make technical, nonsubstantive changes to the provision that authorizes an insurer to cancel a policy by giving 20 days written notice, as specified.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20252026 REGULAR SESSION
Assembly Bill
No. 493
Introduced by Assembly Member HarabedianFebruary 10, 2025
Introduced by Assembly Member Harabedian
February 10, 2025
An act to amend Section 5093 of the Insurance Code, relating to property insurance.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
AB 493, as introduced, Harabedian. Property insurance: notice of cancellation.
Under existing law, 250 or more persons residing in one county may incorporate for purposes of forming a mutual fire insurer, subject to specified criteria. Existing law authorizes a person with an insurable interest in property in the county in which a mutual fire insurer is formed, or an interest in property in an adjoining county, to become a member by insuring in that county. Existing law authorizes any member of a mutual fire insurer to withdraw by surrendering their policy for cancellation. Existing law authorizes the insurer to cancel a policy by giving 20 days written notice to the insured, with or without the excess of the paid premium.This bill would make technical, nonsubstantive changes to the provision that authorizes an insurer to cancel a policy by giving 20 days written notice, as specified.
Under existing law, 250 or more persons residing in one county may incorporate for purposes of forming a mutual fire insurer, subject to specified criteria. Existing law authorizes a person with an insurable interest in property in the county in which a mutual fire insurer is formed, or an interest in property in an adjoining county, to become a member by insuring in that county. Existing law authorizes any member of a mutual fire insurer to withdraw by surrendering their policy for cancellation. Existing law authorizes the insurer to cancel a policy by giving 20 days written notice to the insured, with or without the excess of the paid premium.
This bill would make technical, nonsubstantive changes to the provision that authorizes an insurer to cancel a policy by giving 20 days written notice, as specified.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 5093 of the Insurance Code is amended to read:5093. The insurer may cancel any policy by giving the insured 20 days written notice of cancellation with or without tender of the excess of paid premium above the pro rata premium for the expired time, which time. The excess, if not tendered, shall be refunded on demand. Notice of cancellation shall state that the excess premium (if not tendered) will premium, if not tendered, shall be refunded on demand. The notice may be served in person or by mail, addressed either to the members last post office address or, if this is not known, to the address given upon the application which that is part of the policy.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 5093 of the Insurance Code is amended to read:5093. The insurer may cancel any policy by giving the insured 20 days written notice of cancellation with or without tender of the excess of paid premium above the pro rata premium for the expired time, which time. The excess, if not tendered, shall be refunded on demand. Notice of cancellation shall state that the excess premium (if not tendered) will premium, if not tendered, shall be refunded on demand. The notice may be served in person or by mail, addressed either to the members last post office address or, if this is not known, to the address given upon the application which that is part of the policy.
SECTION 1. Section 5093 of the Insurance Code is amended to read:
### SECTION 1.
5093. The insurer may cancel any policy by giving the insured 20 days written notice of cancellation with or without tender of the excess of paid premium above the pro rata premium for the expired time, which time. The excess, if not tendered, shall be refunded on demand. Notice of cancellation shall state that the excess premium (if not tendered) will premium, if not tendered, shall be refunded on demand. The notice may be served in person or by mail, addressed either to the members last post office address or, if this is not known, to the address given upon the application which that is part of the policy.
5093. The insurer may cancel any policy by giving the insured 20 days written notice of cancellation with or without tender of the excess of paid premium above the pro rata premium for the expired time, which time. The excess, if not tendered, shall be refunded on demand. Notice of cancellation shall state that the excess premium (if not tendered) will premium, if not tendered, shall be refunded on demand. The notice may be served in person or by mail, addressed either to the members last post office address or, if this is not known, to the address given upon the application which that is part of the policy.
5093. The insurer may cancel any policy by giving the insured 20 days written notice of cancellation with or without tender of the excess of paid premium above the pro rata premium for the expired time, which time. The excess, if not tendered, shall be refunded on demand. Notice of cancellation shall state that the excess premium (if not tendered) will premium, if not tendered, shall be refunded on demand. The notice may be served in person or by mail, addressed either to the members last post office address or, if this is not known, to the address given upon the application which that is part of the policy.
5093. The insurer may cancel any policy by giving the insured 20 days written notice of cancellation with or without tender of the excess of paid premium above the pro rata premium for the expired time, which time. The excess, if not tendered, shall be refunded on demand. Notice of cancellation shall state that the excess premium (if not tendered) will premium, if not tendered, shall be refunded on demand. The notice may be served in person or by mail, addressed either to the members last post office address or, if this is not known, to the address given upon the application which that is part of the policy.