{"id":100862,"date":"2025-01-18T08:30:00","date_gmt":"2025-01-18T13:30:00","guid":{"rendered":"https:\/\/en.econostrum.info\/?p=100862"},"modified":"2025-01-18T04:46:59","modified_gmt":"2025-01-18T09:46:59","slug":"this-is-a-historic-moment-california-unveils-sweeping-homeowner-insurance-mandate","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/this-is-a-historic-moment-california-unveils-sweeping-homeowner-insurance-mandate\/","title":{"rendered":"\u2018This Is a Historic Moment\u2019: California Unveils Sweeping Homeowner Insurance Mandate"},"content":{"rendered":"\n

California has unveiled a groundbreaking regulation requiring insurance companies<\/strong> to provide coverage in wildfire-prone regions<\/strong>, addressing a long-standing gap in protection for homeowners in high-risk areas<\/strong>. The policy, announced by Insurance Commissioner Ricardo Lara<\/strong> and reported by The Guardian<\/em>, aims to stabilize the state\u2019s insurance market<\/strong> amid the escalating threat of wildfires<\/strong> and other natural disasters<\/strong>.<\/p>\n\n\n\n

What the New Regulation Requires<\/h2>\n\n\n\n

The regulation mandates that insurers gradually increase their coverage<\/strong> in wildfire-prone areas to ensure broader access for homeowners<\/strong>. By 2026, insurers must ensure that 85% of their policies<\/strong> include high-risk zones. Key points of the policy include:<\/p>\n\n\n\n