California’s home insurance market is a mess. Across the state, major insurers are canceling policies or leaving the market altogether – citing disaster risks that outpace their ability to set rates and cover potential losses. Meanwhile, the state’s FAIR plan, conceived as a temporary policy of last resort for homeowners, has seen an enrollment spike. State regulators are now attempting to bring insurers back to disaster-prone areas – in exchange for fast tracking rate adjustments and expanding the risk-assessment models that insurers can use. We’ll learn more and hear from you: Have you lost your homeowners insurance? How have you coped?
California Regulators Roll Out Plan to Stabilize Home Insurance Market
(Peter Dazeley via Getty Images)
Guests:
Daniellle Vanton, science reporter, KQED News
Michael Wara, policy director for the Sustainability Accelerator at the Doerr School of Sustainability; director of the Climate and Energy Policy Program; senior research scholar at the Woods Institute for the Environment, Stanford University
Michael Soller, deputy insurance commissioner for Communications & Press Relations, State of California
Megan Fan Munce, reporter covering California’s home insurance crisis, The San Francisco Chronicle