CA SB495

Requires admitted insurers with $50 million+ in annual premiums from fire, flood, homeowners, and commercial property lines to submit annual reports by March 1 (starting 2026) on reinsurance program data and catastrophe modeling to the Insurance Commissioner

Imposes civil penalties of up to $5,000 per 30-day period for late report submissions, increasing to $10,000 per period (maximum $100,000) for willful noncompliance

Extends the minimum proof of loss deadline to 100 days after a loss related to a declared state of emergency, with additional 3-month extensions available for circumstances beyond the insured's control

Increases the required advance payment for personal property losses from 30% to 60% of the policy limit (up to $350,000 maximum) for total loss claims related to declared emergencies, without requiring an itemized claim

Makes insurer reinsurance data submitted to the Commissioner confidential and exempt from the California Public Records Act, while requiring the department to publish aggregated market trend reports