Tim Scanlon expressed concern that rising insurance premiums due to wildfires could make his property uninsurable, jeopardizing his financial security and property values.
Despite the rampant wildfires, California Insurance Commissioner Ricardo Lara assured that insurance companies remain committed to California, emphasizing accountability for industry promises.
Insurance Department spokesman Michael Soller highlighted that new regulations allow insurance companies more flexibility in setting rates while mandating a commitment to provide policies in high-risk areas.
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