New California Insurance Rule Forces Carriers to Boost Coverage in Fire Risk Areas

State residents ‘deserve a reliable insurance market that doesn’t retreat’ from vulnerable communities, said insurance chief Ricardo Lara.

Firefighters work at a home devastated by the Franklin Fire in Malibu, Calif., on Dec. 11, 2024. Jae C. Hong/AP Photo

California’s insurance chief has issued a new regulation to ensure that residents living in wildfire areas have access to homeowner policies.

Homeowners in the state have struggled to maintain insurance plans after several major carriers retreated or markedly increased costs.