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This document outlines SB 1060, a bill aimed at addressing the use of risk models by property insurers for underwriting, particularly in relation to wildfire risk mitigation measures such as hazardous fuel reduction, home hardening, and creating defensible spaces. It mandates insurers to report on the extent to which these models account for risk mitigation efforts and sets sunset provisions for the bill\'s applicability.
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What is sb 1060?
SB 1060 is a California Senate Bill that requires certain organizations to report specific financial data to ensure transparency and accountability in funding.
Who is required to file sb 1060?
Entities that receive public funds or engage in specific financial activities as outlined by the bill are required to file SB 1060.
How to fill out sb 1060?
To fill out SB 1060, organizations need to gather the required financial information and complete the designated forms by following the instructions provided by the California Secretary of State.
What is the purpose of sb 1060?
The purpose of SB 1060 is to provide a framework for transparency in financial reporting for organizations that handle public funds.
What information must be reported on sb 1060?
Organizations must report details such as revenue sources, expenditures, and the overall financial health relevant to the funds received.
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