CA SB982

Authorizes the California Attorney General to bring civil actions against fossil fuel companies (with $500+ million in annual revenue/market cap) to recover costs from climate-related disasters, including losses to the California FAIR Plan Association and increased insurance costs to policyholders

Imposes strict liability on "responsible parties" for climate-attributable damage, defined as harm from extreme weather events (wildfires, floods, droughts, storms) where climate change was a substantial factor in the event's severity or frequency

Creates the Attorney General Climate Disaster Fund to collect recovered monetary relief, with funds distributed to policyholder restitution, FAIR Plan obligations, the California Safe Homes grant program, and litigation costs

Cites the January 2025 Los Angeles wildfires ($28-40 billion in estimated insured losses) and the 500%+ expansion of FAIR Plan policies (from 126,000 in 2018 to 700,000+ in 2025) as evidence of climate disaster impacts on insurance markets

Preserves existing legal remedies and does not limit other state enforcement actions against parties liable for climate harms due to misleading practices about fossil fuel-climate connections