With risks higher than ever, the companies that offer fire insurance are deciding not to renew a larger number of
Lara said that next year, FAIR policies will cover up to
So long as these policies are correctly priced based on risk factors and not subsidized directly by taxpayers or indirectly by the millions of Californians able to get property insurance, they are appropriate. The policies should require owners to create fire-resistant defensible space by homes.
But in light of Lara's recent campaign contribution scandal and past posturing, watchdog agencies should keep close tabs on changes he makes. As a state senator, he depicted insurers who canceled policies as the problem — not the mega-fires that threatened to bankrupt the companies because so many homes are in fire-prone areas. Climate change means greater fire risk — and little room for error.
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