Californians deserve a reliable insurance market that doesn't retreat from communities most vulnerable to wildfires and climate change. This is a historic moment for California.
This regulation allows insurers to pass on costs of reinsurance to consumers, marking a significant change in California’s insurance landscape and aiming to attract more insurers.
The new regulation requires insurers to increase their comprehensive home policies in wildfire-prone areas by 5% every two years, addressing the home insurance crisis.
#home-insurance #wildfire-regulations #california-insurance #reinsurance-costs #insurance-market-reforms
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