The state's top insurance regulator puts forward a plan to get insurers to return to areas most affected by California wildfires.
As the threat from wildfires in California only grows with climate change, insurance companies have been pulling back their offerings to homeowners. But while the
on how to address the high cost of doing business in the state while protecting homeowners, the executive branch is stepping in.calling for insurers to return to wildfire zones, but giving companies an easier path to rate increases.explains the proposed regulations: Major insurers will be required to cover a certain share of homeowners in the most wildfire-prone areas. In exchange, the Department of Insurance will allow companies to charge more.
Lara said that, if adopted, the changes will be the most significant adjustment of insurance policies since 1988, when Californians voted to
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