June 14, 2024
The California Insurance Commissioner, Ricardo Lara, has proposed a new plan to provide insurance for homes in areas that are at high risk for wildfires. The plan addresses the problem that insurers have been canceling policies for these homes. While the State cannot force insurers to provide insurance, the plan asks them to provide greater coverage in fire prone areas in exchange for the right to use "catastrophe modeling" to establish insurance rates. Here is a link to the Commisioner's press release announcing the new plan:
https://www.insurance.ca.gov/0400-news/0100-press-releases/2024/release023-2024.cfm