Posted 4/11/2024, 12:00:00 PM
California Weighs Requiring Insurance Discounts for Wildfire Prevention
- California SB 1060 would require insurance companies to account for wildfire mitigation efforts when pricing home insurance
- Insurance industry groups oppose the bill, saying it could jeopardize solvency and undermine existing efforts
- The bill's author, Sen. Josh Becker, says the bill reflects the state's billions in wildfire prevention spending
- Study shows mitigation leads to lower premiums by reducing wildfire risks
- Hearing on the bill set for later this month
