Following the worst fire season on record, California Insurance Commissioner Ricardo Lara is taking aim at high insurance costs for residents in areas threatened by wildfires. “With more Californians rolling up their sleeves and reaching into their own pockets to protect their homes and businesses, insurance pricing must reflect their efforts,” said Insurance Commissioner Ricardo Lara in a news release. “Holding insurance companies accountable for accurately rating wildfire risk in the premiums they charge Californians will help save lives and reduce losses. My new regulations will help encourage a competitive insurance market for all by putting safety first and driving down costs for consumers.” At a meeting during last week’s Forest Futures Salon, the change in regulations, which is planned to go into effect this summer, was addressed by fire officials from around the region, along with officials from the California Department of Insurance.
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