CALIFORNIA REQUIRES PROPERTY RATE FILINGS FOR WILDFIRE SAFETY REGULATIONS

In October of this year, California approved a regulation requiring rate filings from every personal and commercial property insurer that uses wildfire risk, explicitly or implicitly, in rating a policyholder or applicant. The California Department of Insurance (“CDI”) recently published FAQs to assist companies in complying with the regulations.

We have summarized the key information from the FAQs. View summary.