Counties are presented with a unique opportunity to actively
engage in shaping local perspectives as the state progresses
towards enacting insurance reform.
The Little Hoover Commission, an independent state oversight
agency, is set to convene a series
of hearings on the California’s Homeowners’ Insurance Market.
These hearings will review the availability of homeowners’
insurance in the state and assess current strategies to regulate
the homeowners’ insurance market and explore additional policy
solutions.
Public comments will be heard at the end of the public hearing.
CSAC highly encourages counties to participate, offer insights
and provide suggestions that could profoundly influence the
policy landscape emerging from these deliberations. The first
hearing will be held
Thursday, March 28th, at
10:00am in person and virtually.
To Attend In Person
Coastal Hearing Room
CalEPA Headquarters Building
1001 I Street, Sacramento, California 95814
To Join Virtually via Zoom
URL:
https://bit.ly/3Pfq49V
Phone: (888) 788-0099
Webinar ID: 960-2640-8729
Passcode: 189925
Furthermore, the California Department of Insurance (CDI)
released proposed
catastrophe modeling regulation which expands the allowable
use of catastrophe models to include wildfire, terrorism, and
flood lines for homeowners and commercial insurance lines.
Catastrophic insurance losses are defined as those that are
larger and affect multiple policyholders as a result of a severe
event, such as a wildfire affecting dozens of homes compared to a
common house fire.
CDI will host a
public workshop to take input on the proposed regulation on
April 23, 2024, at 2PM/PT.
