California Is Revamping Home-Insurance Rules

The video discusses the challenges of home insurance in California, focusing on affordability and availability amid climate change and inflation. It highlights a historic agreement that incentivizes homeowners to mitigate risks, ensuring insurance availability in wildfire-prone areas. The plan provides new tools for insurers to assess risks accurately. The video also addresses the impact of global reinsurance costs and the need for California-specific solutions.

What are the potential risks of homeowners foregoing insurance coverage?

How are insurance companies expected to adjust their practices under the new regulations?

What is the significance of the 85% coverage commitment in wildfire distressed areas?