Advisory - Commissioner Lara holds investigatory hearing on insurance availability and affordability following wildfires
LOS ANGELES, Calif. — With devastating fires continuing to burn across California, Insurance Commissioner Ricardo Lara is convening an investigatory hearing to initiate a series of regulatory actions that will protect residents from the increasing risk of wildfires. Commissioner Lara is taking action to stabilize the insurance market while protecting lives and homes, reducing catastrophic wildfire losses, and increasing transparency for consumers.
The hearing will address issues including:
- Insurance availability and affordability
- Need for consistent home-hardening standards and insurance incentives for mitigation
- Lack of transparency from insurers on wildfire risk scores and rate justification
WHAT: Virtual investigatory hearing on homeowners’ insurance availability and affordability
WHO: Insurance Commissioner Ricardo Lara with testimony from homeowners, first responders, and other members of the public
WHEN: Monday, October 19, 2020, 1PM – 5PM
1:00 p.m. – 1:15 p.m.: Insurance Commissioner Lara’s Welcoming Remarks
1:15 p.m. – 1:45 p.m.: Department of Insurance Presentation
Public comment to follow
JOIN: To register email cdipress@insurance.ca.gov. The virtual hearing will be held via Zoom format and you will receive an email confirming your attendance.
Members of the public should email CDIRegulations@insurance.ca.gov to register.
MEDIA NOTE: Due to the large number of participants expected, we cannot take live questions from reporters during the hearing. Contact the press office at cdipress@insurance.ca.gov or call Michael Soller during the hearing at (916) 661-0556.
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