CA AB1602

Prohibits insurance policies issued or renewed on or after January 1, 2020, from covering losses related to the use of a firearm, except for property loss or damage.

Exempts automobile insurance policies, homeowners' insurance policies, commercial insurance policies, and umbrella/excess liability policies that cover standard risks without exclusions related to firearm use.

Allows insurers to issue or renew commercial insurance policies for licensed firearms dealers covering liability for injury, death, or property damage resulting from theft, sale, lease, or transfer of firearms or ammunition.

Prohibits surplus line brokers from issuing evidence of insurance or causing nonadmitted insurers to cover losses related to firearm use for home state insureds, with violations constituting a crime.

Declares no state reimbursement is required for local agencies or school districts because any costs result from creating a new crime under the bill.