Property insurance: wildfire risk information reporting.

Existing law establishes the Department of Insurance, headed by the Insurance Commissioner, which regulates insurers and insurance practices. Existing law requires an admitted insurer with written California premiums totaling $10,000,000 or more, on or before April 1, 2020, and every 2 years thereafter, as specified, to submit a report to the commissioner with specified fire risk information on its residential property policies, and subjects an admitted insurer that willfully fails to submit a report to a prescribed civil penalty. Existing law requires the commissioner to post to the department's internet website a report on wildfire risk compiled from the collected fire risk information. Existing law establishes in state government the Natural Resources Agency under the supervision of the Secretary of the Natural Resources Agency, consisting of various departments, including the Department of Forestry and Fire Protection, which is responsible for the fire protection, fire prevention, maintenance, and enhancement of the state's forest, range, and brushland resources, among other things. On or before November 1, 2022, and annually thereafter, this bill would require the commissioner to transmit to the secretary of the agency a report that makes geographic recommendations for vegetation management projects based on the commissioner's analysis of specified information, including nonrenewal data on policies of residential property insurance, and to post that report on the Department of Insurance's internet website. Under existing law, the California FAIR Plan Association, also known as the facility, is a joint reinsurance association in which all insurers licensed to write basic property insurance participate in administering a program for the equitable apportionment of basic property insurance for persons who are unable to obtain that coverage through normal channels. This bill would require the facility to contract with a provider of risk management and modeling services to conduct a study on how concentration risks affect the FAIR Plan's policies in high fire risk areas, as specified. The bill would require the facility to submit the report to the Department of Insurance, the Natural Resources Agency, the Senate Committee on Insurance, and the Assembly Committee on Insurance on or before December 31, 2022.