Department of Insurance’s Wildfire Actions: Sustainable Insurance Strategy

In a significant move to protect California consumers and address the pressing challenges posed by climate change, Insurance Commissioner Ricardo Lara has unveiled the state’s Sustainable Insurance Strategy. This ambitious strategy is aimed at safeguarding the overall health of the insurance market, comprised of consumers, homeowners and business owners, while ensuring long-term sustainability. Social Media Toolkit

The strategy seeks a commitment from insurance companies to write a minimum of 85% of homes and businesses in distressed areas where normal insurance is hard to find. This will reverse a growing FAIR Plan and make sure that insurance is available, especially in high-risk regions.

Decreasing FAIR Plan Policyholders: Priority is given to homes and businesses that mitigate wildfire risk by following the Insurance Commissioner’s “Safer from Wildfires” regulation, facilitating a return to the open market and increasing options for consumers. See more…