CA SB430

Authorizes the California Insurance Guarantee Association (CIGA) to reinsure with or transfer liabilities to California-admitted or commissioner-approved reinsurers to limit adverse development, stabilize assessments, or reduce potential liability for covered claims.

Requires CIGA to retain ultimate responsibility to policyholders or beneficiaries for payment of claims under any reinsurance agreement.

Specifies that reinsurance payments shall be made from CIGA's available funds and not charged to administrative expenses or liquidation estates, with all recoveries from reinsurance becoming CIGA property.

Mandates that CIGA undertake payment and discharge of covered claims either directly or through an authorized third-party administrator.

Makes recoveries from reinsurance agreements payable to the CIGA account from which the reinsurance payment was originally made.