"We commend the CDI (California Department of Insurance) for calling on insurers to implement better ways to prevent and mitigate risk," said Attila Toth, founder and CEO of ZestyAI. "A healthy insurance ecosystem is paramount to keeping insurance widely available in California and providing transparency around wildfire risk supports that goal." (Credit: David Odisho/Bloomberg)
Insurance companies operating in California must now recognize and reward homeowners and businesses that undertake wildfire mitigation efforts as part of the state's Safer from Wildfires framework. As part of the regulations, insurers must provide discounts for mitigation efforts and provide wildfire risk scores to policyholders. The framework also includes a process for policyholders to appeal the risk score.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
