CA AB407

Repeals Section 9084.5 of the Insurance Code, which contained provisions regarding reinsurance limits and requirements for fraternal fire insurers.

Removes vehicle coverage from the list of insurable losses for associations, eliminating coverage for vehicles owned or operated by the insured or any tenant of the described premises.

Adds liability insurance to the list of covered risks that associations may insure against.

Maintains existing coverage options including fire, windstorm, hail, explosion, vandalism, burglary, theft, and mysterious disappearance.