Dodd Responds to New Insurance Pricing Regulations
SACRAMENTO – Sen. Bill Dodd, D-Napa, issued the following statement today regarding the enforcement of new wildfire safety regulations by California Insurance Commissioner Ricardo Lara that will help drive down the cost of insurance and protect communities.
“This is an important milestone that will save policyholders money while making our state safer and more resilient from fire,” Sen. Dodd said. “It is a win-win for California, and I appreciate Commissioner Lara’s diligence and support.”
Sen. Dodd’s comment followed an announcement today from Commissioner Lara that he will begin enforcing the new insurance pricing regulation he wrote recognizing and rewarding wildfire safety and mitigation efforts made by homeowners and businesses. It becomes effective today.
Commissioner Lara’s first-in-the-nation regulation requires insurance companies to provide discounts to consumers under the “Safer from Wildfires” framework created by the California Department of Insurance in partnership with state emergency preparedness agencies. The regulation is state law and enshrined in the California Code of Regulations.
A link to the commissioner’s announcement is here: https://www.insurance.ca.gov/0400-news/0100-press-releases/2022/release076-2022.cfm
Senator Bill Dodd represents the 3rd Senate District, which includes all or portions of Napa, Solano, Yolo, Sonoma, Contra Costa, and Sacramento counties. You can learn more about the district and Senator Dodd at www.sen.ca.gov/dodd.