California Bill Would Make Insurers Offer More Discounts for Fire Mitigation

California’s battle to keep insurers from leaving the state could become harder under a new bill that would add regulations to the already weakening property and casualty insurance market. Authored by Sen. Josh Becker in February, Senate Bill 1060 looks to expand the list of acceptable fire mitigation protections that state insurers must offer discounts for when writing new policies. In a joint letter submitted to the Senate Committee on Insurance, multiple insurance associations explained that the bill would put insurers in a tough spot. “It is clear the goal of this bill is to force insurers to take on risks that are not supported by adequate rate levels and jeopardize their financial solvency,” reads a summary of the opposition in an April 22 analysis of the bill....