AB 69: FAIR Plan policy notices and renewals.

The California FAIR Plan Association is a joint reinsurance association in which all insurers licensed to write basic property insurance participate to administer a program for the equitable apportionment of basic property insurance for persons who are unable to obtain that coverage through normal channels. Existing law requires the association to implement programs to help reduce the number of existing FAIR Plan policies.

This bill would require a broker of record to determine if a FAIR Plan policy can be moved to a voluntary market insurance company before the policy is renewed. The bill would require the association to provide all policyholders with a notice regarding their coverage options at least annually, including with the initial policy issuance and upon each renewal.