AB 1554

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 CEA’s program operations, including the financial condition of the authority, and to post the report on the CEA’s internet website. Existing law requires copies of a certified report examining the CEA’s 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 CEA’s internet website.