SAN DIEGO CHILD ACCIDENT INJURY LAWYER | THE SETTLEMENT RELEASE: If the insurance company sends me the bodily injury settlement release for my child's california accident , and I sign as the parent, can I now enforce the settlement under California law for the benefit of my child?

No, you cannot; not until the California Superior Court appoints a Guardian for your child (which can be you if you are the parent, etc.) and approves the settlement.  This requires a California child accident attorney to prepare the paperwork and file with the court; then the attorney attends the court hearing to obtain a judge's independent approval of the bodily injury settlement so a court order can be obtained to open a blocked account for the child to deposit the settlement funds.  The Guardian will act as a "trustee" for the settlement funds until the child turns 18 years old.
Mark Blane
Founder of The Law Offices of Mark Blane, APC