Insurance Commissioner Ricardo Lara released a set
of proposed
rules that would require insurance companies to provide
a consumer with their property’s wildfire risk score. The rules
would require the score to recognize a consumer’s mitigation
actions that could improve their rating, such as creating
defensible space and fire-hardening, and allow time for the
consumer to reduce their score. The Commissioner will hold
a public pre-notice workshop on March 30 on the
wildfire risk score regulations.
In addition to the wildfire risk score regulations, Commissioner
Lara also announced changes to insurance company rate filings
rules. These proposed regulation changes would require homeowner
insurance companies to submit the complete information they use
to determine which properties to underwrite or renew.
Additionally, the changes are intended to provide insurance
companies with more upfront certainty regarding what materials
and information that the Commissioner requires in filed rate
applications with the California Department of Insurance and to
eliminate delays caused by incomplete initial filings. For more
information, contact Catherine Freeman at cfreeman@counties.org.
