California AB1554 mandates annual financial reports and risk transfer market mechanism recommendations for the California Earthquake Authority.

California AB1554 amends the Insurance Code to require the California Earthquake Authority to submit an annual financial report to the Legislature and the Insurance Commissioner. The report must detail the authority's financial condition, assets, liabilities, revenue, and expenditures. Additionally, the bill mandates the creation of a working group to identify and recommend risk transfer market mechanisms that promote investment in natural infrastructure to mitigate climate change risks.

California AB1554 mandates annual financial reports and risk transfer market mechanism recommendations for the California Earthquake Authority.

California AB1554 amends the Insurance Code to require the California Earthquake Authority to submit an annual financial report to the Legislature and the Insurance Commissioner. The report must detail the authority's financial condition, assets, liabilities, revenue, and expenditures. Additionally, the bill mandates the creation of a working group to identify and recommend risk transfer market mechanisms that promote investment in natural infrastructure to mitigate climate change risks.