QUORUM WERE CLOSE.
WE WERE CLOSE.
ALL YOU DO YEAH.
WURLITZER.
YEAH ALSO THAT OVER. FOUR EIGHT
FIVE SIX SO WERE ONE SHORT OF A
QUORUM [inaudible] ONE YEAH
[inaudible]
AND WE HE WORK [inaudible]
RIGHT.
BUT TO WALK ME QUESTIONS.
ALL THE PROBLEMS THAT WE'RE
HAVING TOO MUCH FUN.
YEAH YEAH YEAH.
THE FRIENDLY TONE.
YEAH MORE YEP [inaudible]
WHAT?
BUT I'M GLAD YOU FINALLY NOTICED.
WE DO.
ALL RIGHT.
NOTHING LET'S CALL THIS.
THIS HEARING TO ORDER THIS IS
THE JUNE.
TWENTY SIX TWO THOUSAND NINETEEN
HEARING OF THE ASSEMBLY
INSURANCE COMMITTEE.
LET'S TAKE ROLAND ESTABLISH A
QUORUM [inaudible]
DALY HERE [inaudible]
MAYES.
BERMAN YOUR BIGELOW [inaudible]
CALDERON [inaudible]
CHEN [inaudible] TO COOLEY
[inaudible]
UBER [inaudible]
FRAZIER [inaudible]
GIPSON [inaudible]
GRAYSON [inaudible]
KAMLAGER-DOVE [inaudible]
VOEPEL.
THERE'S A QUORUM WITH EIGHT
LET'S SERVE WE HAVE THREE ITEMS
ON THE CONSENT CALENDAR.
MOTION AND SECOND ALL NOTED ITEM --
FOR INCLUDES A SMALL TECHNICAL
AMENDMENT MENSA RUBIO'S BILL SB.
FIVE SEVEN ZERO MOTION SECOND
LET'S DO ROLL CALL VOTE UNLESS
THERE ARE ANY QUESTIONS OR
COMMENTS.
ROLL CALL VOTE.
DALY AYE DALY AYE MAYES.
BERMAN.
BERMAN AYE BIGELOW.
BIGELOW I CALDERON.
CHEN.
CHU.
COOLEY.
COOLEY AYE COOPER.
AYE COOPER AYE FRAZIER FRAZIER I
GIPSON.
GRAYSON.
BIG GRAYSON I'D KAMLAGER-DOVE.
KAMLAGER-DOVE I VOEPEL
[inaudible] EIGHT ZERO ALL
RIGHT.
SO WE HAVE ONE BILL REMAINING IN
ITS -- SENATOR DODD'S BILL
SPECIAL FUND FOR ECONOMIC
UNCERTAINTIES -- WE HAVE AN
EXCELLENT THOROUGH STAFF REPORT
IT'S BEEN [inaudible]
PRODUCED [inaudible]
YES [inaudible]
DR [inaudible]
SO [inaudible]
REALLY [inaudible]
OKAY.
WHAT ABOUT -- I DON'T KNOW I
THINK THIS IS A FAIRLY BIG DEAL
FOR SENATOR DODD I I THINK IT IS --
AND I DON'T WANNA.
YEAH MY ANNA.
AND THE YEP [inaudible]
WELL.
RIGHT.
WHY DON'T I THINK THAT'S -- IT'S
ABOUT NINE TEN EAST IS TEN
MINUTES OF BEHIND -- GOOD.
EXCELLENT POINT.
EVERYONE'S ALERT AND FOCUS THIS
MORNING THIS IS SO GOOD.
IS HE ON HIS WAY [inaudible]
OKAY [inaudible]
OKAY -- THAT'S GREAT WELL --
LET'S GET THE WE'RE ON THAT ITEM
ARE THERE ANY QUESTIONS BY
MEMBERS -- WE'VE BEEN TALKING
ABOUT YOU.
SENATOR [inaudible]
WE ALMOST.
WATCH OUT.
YEAH.
WELL THERE'S NO FOUNDER LEFT
BECAUSE THEY STOLE IT ALL.
ALL THESE COMMITTEE MEMBERS ARE
A SO WE'RE ON YOUR BILL SENATOR
SB TWO NINE ZERO WELCOME TO THE
ASSEMBLY INSURANCE COMMITTEE.
MOTION AND SECOND QUITE HATE
THAT I HATE TO MAKE EVERYBODY
SHOW UP THIS MORNING NOT HAVE.
A LONG PRESENTATION.
YEAH. FOR ONE BILL.
LET ME TELL YOU HOW MUCH I
APPRECIATE THAT DON'T YOU HAVE A
POWER POINT OR LET ME SEE WHAT I
COULD DO ON THE FLY ALL RIGHT.
THIS CHAIRMAN NUMBER.
THANK YOU FOR THE OPPORTUNITY TO
BE HERE THIS MORNING.
CLIMATE CHANGE IS CREATING
ENORMOUS FINANCIAL RISK AND
CHALLENGES FOR THE STATE.
LAST YEAR MORE THAN SIX THOUSAND
INDIVIDUAL FIRES BROKE OUT
THROUGHOUT CALIFORNIA BURNING
EIGHT HUNDRED SEVENTY SIX
THOUSAND ACRES DESTROYING HOMES.
AND TRAGICALLY KILLING A HUNDRED
FOR PEOPLE.
UNEXPECTED DISASTER EXPENSES
GREAT EXTREME BUDGET UNCERTAINTY
TAKING AWAY RESOURCES FROM OTHER
VITAL SERVICES AND REDUCING OUR
ABILITY TO PROTECT AGAINST OR
PREVENT FUTURE DISASTERS. TO
CORRECT THAT SB NINETY IS A PLAN
THAT BRINGS GREATER
PREDICTABILITY TO OUR STATE
COFFERS OF THE TIME A DISASTER.
ALLOW US TO FIND MORE STATE
SERVICES OR MAKE GREATER
INVESTMENTS IN FIRE PREVENTION.
SB THAT TO THE IDEA SPONSORED BY
OUR STATE TREASURER THE AUDIBLE
FEELING AMAT AS WELL AS
INSURANCE COMMISSIONER THE
AUDIBLE RICARDO LARA.
AND WITH ME TODAY I HAVE --
OTHER PEOPLE THAT ARE IN SUPPORT
THANK YOU.
GO AHEAD SIR.
GOOD MORNING MICHAEL MARTINEZ
HER BEHALF OF INSURANCE
COMMISSIONER RICARDO LARA AND
THE CALIFORNIA APARTMENT
INSURANCE.
IN STRONG SUPPORTERS MEASURE AND
THE COMMISSION IS PROUD TO BE A
CO SPONSOR A TO THIS BILL AND I
HAVE WITH ME MIKE PETERSON THE
COMMISSIONERS AND DEPARTMENTS
INAUGURAL DEPUTY COMMISSIONER
FOR CLIMATE SYSTEM ABOUT
SUSTAINABILITY.
TOP ANSWERING QUESTIONS -- AND
JUST JUST WANTED TO SAY.
IT'S STRONG SUPPORT OF THIS BILL
IT WILL IMPROVE OUR BUDGET
PREDICTABILITY EMPOWER THE STATE.
TO INVEST IN GREATER RISK
REDUCTION EFFORTS WITHOUT
NEEDING TO DROP ON THE STATE'S A
BUDGET RESERVES AND SO WE ASK
FOR YOUR AYE VOTE.
I THANK YOU GOOD MORNING MISTER
CHAIR MEMBERS OF THE COMMITTEE
I'M CASEY O'CONNOR LEGISLATIVE
DIRECTOR FOR STATE TREASURER
FIONA MOP PROUD TO CO SPONSOR
AND THANKS.
THE AUTHOR IN THE INSURANCE
COMMISSIONER FOR THEIR
LEADERSHIP ON THIS -- AS THE
STATE'S TOP ONE OF THE STATE'S
TOP PRODUCE YEAR IS THE TREASURE
FIRMLY BELIEVES THAT SOUND
FINANCIAL MANAGEMENT.
IS A MATTER OF MUCH MORE THAN
BALANCED BUDGETS OFFERED BY THE
GOVERNOR AND RESPONSIBLE
SPENDING DECISIONS BY THE
LEGISLATURE.
SOUND FINANCIAL MANAGEMENT
PRESUMES THE STATE ACTIVELY
EXPLORES AND EMBRACES TOOLS AND
TECHNIQUES THAT ENHANCE FUTURE
FLEXIBILITY AND WHICH LAY OUT A
FOUNDATION FOR MORE RIGOROUS.
INSTITUTIONALIZED FINANCIAL RISK
CONTROL IN THE FUTURE SB TWO
NINETY ADDS A TOOL THAT TOOL KIT
AND WE'RE PROUD TO BE SUPPORT OF
THANK YOU.
IN ANY OF THE OTHER FOLKS HERE
WISHING TO ADD HONOR SHOULD
SECURE MEMBERSHIP LEAN ON BEHALF
OF THE THE REINSURANCE
ASSOCIATION AMERICA BE VERY
BRIEF -- THE RE INSURANCE
MARKETS ARE -- AVAILABLE VERY TO
BRIDGE A VERY COMPETITIVE -- IN
WE THINK THISIS A PRINT
APPROACH FOR THE STATE TO TAKE
CERTAINLY ON A REQUIREMENT BUT
IT IT IS -- BUT WE THINK A
PRUDENT TOOL TO HAVE IN THEIR
TOOL BOX IF THEY CHOOSE TO USE
IT -- SO WITH THAT WOULD BE
THEIR SUPPORT OF SB TWO NINE
THANK YOU GOOD THANK YOU.
AND THE OTHER GENTLEMAN -- YOU
MONEY -- COMICS HEATERS AND
COVERING DEPARTMENTS ARE AND SO
I'M THE TO BE COMMISSION CLIMB
INSISTING ABILITY -- I WOULD
JUST ADD THAT OTHER GOVERNMENTS
HAVE A TRACK RECORD -- THE N. F.
I. P. THE STATE OF OREGON THE
WORLD BANK ALL USE METHODS LIKE
THIS TO HELP STABILIZE BUDGETS
AND I'M HAPPY TO ANSWER ANY
QUESTIONS.
THANK YOU THANK YOU OTHER OTHER
PERSONS HERE WISHING TO SUPPORT
THE BILL WISHING [inaudible]
TO SIMPLY A STATE YOUR NAME AND
YOUR POSITION.
GOOD MORNING SIR IN TAYLOR THE
PERSONAL INSURANCE FEDERATION
CALIFORNIA HERE IN SUPPORT THANK
YOU THANK YOU.
MARK SECOND AMERICAN PROPERTY
CASUALLY INSURANCE ASSOCIATION
IN SUPPORT OF THE BILL ALL ANY
OTHER.
SUPPORTERS IF NOT ARE THERE ANY
PERSONS HERE TO OPPOSE THE
BUILDER.
QUESTION IT.
IF NOT THEN A MEMBERS DO YOU
HAVE ANY QUESTIONS FOR THE
AUTHOR.
WE HAVE THE AS I SAID AN
EXCELLENT STAFF REPORT ON THIS
SUBJECT THOROUGH ON CALL THE
QUESTIONS HAVE BEEN ANSWERED.
AND WE HAVE A MOTION AND SECOND
ALREADY SO.
THIS IS THE PROVERBIAL BOBSLED
GOING DOWN THE MOUNTAIN PASS
[inaudible]
EXPECT WITH.
THANK YOU SENATOR DODD.
LET'S OF VOTE ON THE ON THE BILL
ON SB TWO NINETY IT'S TO PASS WE
REFERRED TO GOVERNMENT
ORGANIZATION COMMITTEE.
DALY AYE DALY AYE MAYES MAYES
I'D BERMAN.
BERMAN AYE BIGELOW.
BIGELOW AYE CALDERON.
CHEN.
CHU.
COOLEY [inaudible]
COOPER.
FRAZIER FRAZIER I GIPSON.
GIPSON I GRAYSON.
GRAYSON I COME LONGER DOES.
COME LONGER DOES I VOEPEL
[inaudible]
HELLO HI. NINE ZERO NINE ZERO
SENATOR DODD WELL DONE.
THIS IS AN OPPORTUNITY FOR THE
MEMBERS TO ADD ON YOU HAVE AN
FOR THIS OR WE WERE FOCUSED IN
THE ASSEMBLY.
I LOVE OKAY -- FOCUSED.
THIS IS AN OPPORTUNITY TO ADD ON
FOR ANY MEMBERS WHO MISSED THE
CONSENT CALENDAR.
MR FRAZIER DID NOT MISS THE
CONSENT CALENDAR HE WAS HERE.
TRACY WANT TO CALL OFF THE CAN
THE CONSENT CALENDAR.
WILL COVER ABOUT -- CONSENT
CALENDAR MAYES AYE MAYES AYE.
CALDERON.
CHEN.
CHEN AYE CHIU.
CHU AYE.
GIPSON.
GIPSON I VOEPEL.
OUR MISSION.
MR [inaudible]
OKAY. TWELVE TO ZERO AND THEN
MISTER COOPER NEEDS TO VOTE.
THANK YOU.
ON SB [inaudible]
TWO NINETY CALDERON [inaudible]
CHEN.
GEN I TO TO AYE COOLEY AYE
COOLEY AYE COOPER.
COOPER AYE. THIRTEEN IS.
ZERO ALL RIGHT IN WE ARE WAITING
FOR OTHERS ONE MEMBER WHO'S ON
HIS WAY WHO WILL THEN BE VOTING
THANK YOU TO EVERYONE -- VOEPEL.
I KIND OF FEEL [inaudible]
OKAY.
SOMEONE ANYONE WITH BECAUSE
ONE
FOURTEEN ZERO I AM I THINK
EVERYONE HAS VOTED.
EXCEPT FOR FELT KINDA MISSED THE
CONSENT YEAR ENDED UP WE WERE
WAITING THERE.
DO WE WANT TO NOTIFY VOEPEL.
GIVE HIM A CHANCE TO VOTE.
HE VOTED ON THE DODD BUILD IN
THE YES
ON THE CONSENT CALENDAR.
VOEPEL.
VOEPEL AYE [inaudible]
FOURTEEN ZERO SO WHAT.
WORKING FOR FOR WHAT I'M DOING
[inaudible]
YEAH.
SO THIS -- INSURANCE.
HEARING IS ADJOURNED