CA Fire Home Insurance Proposed Regulation / Public Hearing

Many HHWNC stakeholders are affected by rising homeowners’ insurance costs, cancellation of policies, and insurance companies pulling out of the State. As such, CA Insurance Commissioner Lara has issued a proposed rulemaking that would establish new wildfire modeling regulations, which has opened up a public comment period concluding with a public hearing held on September 17^th.

The proposed regulation would allow insurance companies to use forward-looking catastrophic models to assess future wildfire risks, rather than the current historical models that they have been required to use for the past 30 years. It also allows for public review of models used in ratemaking. The goal of this regulation is to keep insurance companies in CA and to write more policies in wildfire prone areas with higher risk homes. It is supposed to take into account future risks like climate change, etc.

Please see press release and more information at the link here.

PUBLIC HEARING

• Date: September 17, 2024
• Time: 10:00 a.m. The public hearing shall continue until all in attendance wishing
  to provide comments have commented, or 1:00 pm.
• Zoom Registration: https://us06web.zoom.us/webinar/register/WN_AlZHZOIOS_6LI9G0-BQYUQ

The telephonic call-in line that is available to access the public hearing is accessible to persons with hearing impairment. Persons with sight or hearing impairments are requested to notify one of the contact persons for this hearing (listed below) in order to review available accommodations, if necessary.