State regulators propose enabling insurers to raise rates based on climate change to expand coverage in high-risk fire regions like the Bay Area's various counties and urban fire-risk locations.
Insurers pulling out of California have left homeowners with few options, leading to expensive FAIR Plans; Lara's strategy is to attract more insurers using risk modeling tools for rate justifications.
#homeowners-insurance #california-insurance-commissioner #fire-prone-areas #rate-hikes #climate-change
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