Under the new rules, which are slated to be completed by December 2024, insurers will be able to raise premiums based on current and future risks as long as they agree to provide a certain share of coverage in areas vulnerable to fires. Credit: Ringo H.W. Chiu Under the new rules, which are slated to be completed by December 2024, insurers will be able to raise premiums based on current and future risks as long as they agree to provide a certain share of coverage in areas vulnerable to fires. Credit: Ringo H.W. Chiu

(Bloomberg) — California is prioritizing home insurance availability as it rewrites market rules to coax back insurers and ease a coverage crunch in a state ravaged by wildfires, said state Insurance Commissioner Ricardo Lara.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Personal Lines
Regulation/Legislation