CA SB336

Amends Section 10089.40 of the Insurance Code to change the earthquake retrofit discount from a fixed 5 percent to "at least 5 percent" for policyholders whose homes meet seismic safety standards

Allows the California Earthquake Authority board to approve premium discounts or credits above 5 percent if determined to be actuarially sound

Requires rates to be actuarially sound and based on best available scientific information regarding earthquake frequency, severity, and risk factors

Maintains restrictions on using scientific data to establish rate differentials between northern and southern California regions unless evidence clearly demonstrates higher earthquake risk in one region

Applies retrofit discount requirements to residential dwellings built before 1979 with foundation ties, braced cripple walls, and secured water heaters, and to mobilehomes with certified earthquake resistant bracing systems