SB 1370

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 to the Legislature, on or before April 1, 2026, 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 across stakeholders to complement or replace the fund. Existing law requires that the report include specified recommendations including, recommendations on the accessibility and affordability of property insurance in California and an evaluation of alternative structures to socialize risk of damage from natural catastrophes, as provided. This bill would require the administrator to present those recommendations to specified Senate committees.