California is trying to cut big contracts with home insurers to keep them here. Now you can help shape a compromise to counteract it and alleviate the insurance crisis.
The California Department of Insurance is asking the public to weigh in on rising insurance premiums and businesses losing loyal customers. Comments can be submitted to the state until Oct. 17.
You may submit your comments by email to CDIRegulations@insurance.ca.gov by that date, or you may submit your comments by email to the address provided here. The state asks that written comments be identified as “Catastrophe Modeling and Evaluation, REG-2023-00010.”
“In particular, we want to hear from local communities, fire protection councils and Firewise communities, and those working on the ground to protect homes,” explained Michael Soler, Acting Health Commissioner. .
NBC Bay Area Consumer Investigator Chris Chmura explains how to protect yourself and your home if your home insurance company insures you.
The contents of the discussion are as follows: The state says it will allow insurance companies to use new forecasting and modeling tools to set rates. But in exchange, more homes in wildfire areas will have to be insured. The Office of the Insurance Commissioner is betting on a trickle-down that all consumers will see more insurance options next year.
The proposed regulations can be read here.
If your insurance contract has been terminated, please let us know.
