2021 Tamarack Fire in California
Hwy. 395 area on the afternoon of July 22
Credit: USFWS
October 4, 2024 - LOS ANGELES — Insurance Commissioner Ricardo Lara made the following statement on the continuing progress of his Sustainable Insurance Strategy, which aims to safeguard the integrity of California’s insurance market amid growing climate risks. The Department has invited extensive public comment on a proposed wildfire catastrophe modeling regulation, including a hearing on September 17. Today the Department requested written public comments by October 17 on revisions to the regulation. View the notice and revised text at the Department’s website.
“Since launching this comprehensive strategy last year, we have made significant strides in addressing the insurance challenges facing Californians due to the accelerating impacts of wildfires, floods, and other climate-related disasters.
“This strategy is grounded in transparency and public engagement. We have solicited input from a broad range of Californians — including wildfire experts, residents across the state, consumer groups, and insurers — to craft regulations that address today’s challenges and create a foundation for long-term sustainability.
“I am proud of the progress we’ve made, and we are working diligently to meeting our deadline. As we approach the final phase of implementing these reforms by December 2024, I remain focused on delivering a modern insurance marketplace that protects homeowners and businesses while promoting resilience across California’s communities.”
Source: CA. Dept. of Ins.