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Bills

AB 1554: California Earthquake Authority.

  • Session Year: 2025-2026
  • House: Assembly
  • Latest Version Date: 2026-03-02

Current Status:

In Progress

(2026-03-03: Re-referred to Com. on INS.)

Introduced

In Committee

First Chamber

In Committee

Second Chamber

Enacted

Version:

Existing law establishes the California Earthquake Authority (CEA), administered under the authority of the Insurance Commissioner, to transact insurance in this state as necessary to sell policies of basic residential earthquake insurance. Existing law requires the CEA to annually report to the Legislature and the commissioner on the CEAs program operations, including the financial condition of the authority, and to post the report on the CEAs internet website. Existing law requires copies of a certified report examining the CEAs financial and program operations and verifying the annual report to be made public.

This bill would additionally require the CEA to provide the annual report to the Senate Committee on Insurance and the Assembly Committee on Insurance. The bill would specify that the certified examination and verification report be posted on the CEAs internet website.

Existing law establishes the Wildfire Fund, administered by the Wildfire Fund Administrator, and continuously appropriates moneys in the fund to pay eligible claims, as defined, against participating electrical corporations arising from wildfires ignited on or after July 12, 2019. Existing law requires the administrator, in consultation with the Public Utilities Commission, the Office of Energy Infrastructure Safety, the Department of Insurance, the Office of Emergency Services, and the Department of Forestry and Fire Protection, and with feedback solicited from stakeholders, to prepare and submit a report that evaluates and sets forth recommendations on new models or approaches that mitigate damage, accelerate recovery, and responsibly and equitably allocate the burdens from natural catastrophes, including catastrophic wildfires, earthquakes, and other natural disasters, across stakeholders, to complement or replace the fund.This bill would state the intent of the Legislature to enact subsequent legislation to implement the recommendations set forth in the report.

News Coverage:

AB 1554: California Earthquake Authority. | Digital Democracy