California Proposes New Measures to Tackle Home Insurance Crisis

Insurance Commissioner Ricardo Lara outlines options for insurers to increase coverage in high-risk wildfire areas, addressing the growing insurance gap.

• Insurers can choose from three pathways to meet coverage requirements in high-risk areas.
• Options include writing 85% of market share, growing policies by 5%, or reducing FAIR Plan reliance.
• The state expects compliance in exchange for allowing catastrophe modeling for rate setting.
• Governor Newsom supports the plan as part of broader climate crisis response.
• Public comments on the proposal are open until June 27.

7 Articles

East Bay Times Orange County Register CalMatters Los Angeles Times CalMatters CalMatters The Sacramento Bee