SB 525

Existing law creates the California FAIR Plan Association, a joint reinsurance association formed by insurers licensed to write and engaged in writing basic property insurance within this state, to assist persons in securing basic property insurance, and to formulate and administer a program for the equitable apportionment among insurers of basic property insurance. Existing law defines “basic property insurance” for these purposes. This bill would define “basic property insurance” offered through the FAIR Plan to include insurance for manufactured homes and mobilehomes under the same terms and conditions as basic property insurance sold for other residential dwellings.