In response to wildfires in Los Angeles County, former insurance commissioner Dave Jones advocated for oil companies to bear the costs of damages rather than insurance firms. He cited the precedent of PG&E being held accountable after the Camp Fire and emphasized that holding oil companies responsible could stabilize the insurance market in California. Following this commentary, state Senator Scott Wiener introduced Senate Bill 222, aiming to legally require oil companies to compensate for climate-related disaster losses, thereby aiding recovery efforts and preventing insurers from reducing coverage.
"We should require these highly profitable companies to compensate communities, homeowners, businesses and even insurers for the losses."
"Californians are paying a devastating price for the climate crisis, as escalating disasters destroy entire communities and drive insurance costs through the roof."
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