Victoria Roach — The Chair welcomes and introduces Victoria Roach, president of the California Fair Plan, then turns the floor over to her. Roach begins her remarks by thanking the committee and outlining that she will provide background on the Fair Plan, explain who they are and why they are there, and set up how that relates to where the organization is headed.
Victoria Roach — Introduced Armand and transitioned to the next part of the presentation.
Armand Feliciano — Armand Feliciano says he is here for the Fair Plan and begins his presentation.
Mount Feliciano — Introduced the presentation and said the goal was to discuss the Fair Plan's history, role, evolution, population, and data after the Southern California wildfires.
Armand — Took over the presentation and introduced a framework showing Fair Plan stabilization, expansion, and potential expansion.
Armand — Thanked for being present at the hearing.
AB1754 — Cited as legislation passed after a Fair Plan assessment to help ensure actuarially sound rates and reduce the chance of future assessments.
SB11 — Cited as the bill that passed after farmers, including wineries, sought coverage; the Fair Plan now covers farmers.
AB290 — AB 290 was discussed as a Fair Plan-related bill focused on extending grace periods for renewals and resolving automatic payment issues, with the overall aim of creating a grace-period-related change in the plan.
SB525 — Described as a bill requiring replacement coverage for manufactured homes and mobile homes.
SB525 — SB 525 was discussed as a bill related to requiring replacement cost coverage for manufactured and mobile homes. The speaker noted that the Fair Plan had no position on the bill and added that supporters estimate about 500,000 policyholders would need this replacement cost coverage.
Victoria — Referenced as the broker in the example negotiation between State Farm and the broker of record.
Victoria — The speaker thanks Victoria for returning and praises her for being transparent and giving full answers, then continues addressing her directly while shifting into a discussion about how long it may take California to unwind the current market situation.
Victoria — Thanked for being present at the hearing.
AB226 — The speaker expresses support for AB 226, explaining that it would help provide access to additional funding and improve the effort to secure a line of credit and other financing flexibility, including access to bonds. The discussion ends with a reaffirmation of support for the bill going forward.
AB226 — AB 226 is discussed as one of the existing mechanisms helping address solvency and depopulation, and the witness later expresses support for the bill, hoping it reaches the Governor and is signed.
Lisa Calderon — Named as a coauthor/sponsor of AB 226.
David Alvarez — Named as a coauthor/sponsor of AB 226.
David Alvarez — Referenced as a co-author of AB 226.
John Harabedian — The chair opened questions and recognized Assemblyman John Harabedian, who then asked about the Fair Plan’s viability and what the Legislature should do to help it survive and continue serving as the insurer of last resort.
John Harabedian — Assemblyman John Harabedian is thanked for his questions and then the speaker notes that any questions not yet answered should be sent directly to him, effectively wrapping up the exchange.
Heather Hadwick — The discussion is turned over to Assemblywoman Hadwick, who briefly responds and asks that any unanswered questions be followed up directly. Later in the same exchange, she is referenced as having previously raised concerns about the issue.
AB69 — Described as a Fair Plan depopulation bill.
Dan Dunmore — Identified himself as being with the California Building Industry Association and thanked the committee for the informational hearings.
John Norwood — Spoke on behalf of the Independent Insurance Agents & Brokers of California and described severe market contraction for homeowners insurance.