Sen. Dodd Comments on Insurance Commissioner Action
SACRAMENTO – Sen. Bill Dodd, D-Napa, released the following statement today regarding California Insurance Commissioner Ricardo Lara’s announcement that he would explore the use of catastrophic modeling to set property insurance rates and stabilize the insurance market, ensuring access and affordability:
“International inflation and climate-driven wildfire risk have combined to hammer the insurance market, and we need to be innovative to maintain market competition and consumer choice,” Sen. Dodd said. “There’s no silver bullet but looking at catastrophic modeling is an important step to boosting insurance access. I know Commissioner Lara takes this issue very seriously and I look forward to continuing to work with him on advancing critical improvements that will help give Californians the insurance coverage they need.”
Link to Commissioner Lara’s announcement: https://www.insurance.ca.gov/0400-news/0100-press-releases/2023/release033-2023.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.