The move could bring back insurers, even to wildfire-prone areas, but some fear that it may raise prices.
that California will allow insurers to consider future risks when setting rates for insurance policies. However, this will only happen if insurance companies agree to write more home insurance policies, including for customers in at-risk areas, including areas with wildfire risk.“We are at a major crossroads on insurance after multiple years of wildfires and storms intensified by the threat of climate change.
The order asked that the commissioner expand home insurance choices for consumers.Under the new rules, the California Department of Insurance will require insurance companies to write no less than 85% of their market share in high wildfire-riskhad to turn to the California FAIR plan return to the regular market.
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