The Legislature failed to resolve the insurance crisis facing homeowners, prompting Newsom and the state insurance commissioner to intervene.
about something that threatens the psychic and economic wellbeing of millions of homeowners and those who aspire to ownership: the rapidly shrinking availability of residential fire insurance.in California, having paid out billions of dollars to cover losses from years of major wildfires and, they say, facing a fire threat that is likely to increase with climate change.
However, the negotiations ended a week before the Legislature adjourned without agreement, signaled when state Sen. , a Democrat whose Napa-centered district is one of the state’s most fire-prone regions, sent a text message:The discussions revolved about changing the way insurers calculate risk, from basing it on past experience to including potential future risk. Such a change would probably increase premiums and legislators wanted ironclad assurances that the companies would continue writing policies in fire-prone areas if the change was made.
Become a CalMatters member today to stay informed, bolster our nonpartisan news and expand knowledge across California.“We hear loud and clear from our residents that access to insurance is a problem,” Assembly Speaker
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