Comment by nathanaldensr
1 day ago
https://www.clydeco.com/en/insights/2025/01/california-wildf...
> The Bulletin was issued pursuant to California Insurance Code section 675.1(b)(1), which states that an insurer “shall not cancel or refuse to renew a policy of residential property insurance for a property located in any zip code within or adjacent to the fire perimeter, for one year after the declaration of a state of emergency . . . based solely on the fact that the insured structure is located in an area in which a wildfire has occurred.”
I imagine this won't apply if the insurer just leaves the state.
Yep. These are terms to operate as an insurance company in the state. If you don't want to do that, the rules have no bearing on you.
Which effectively means that anybody in a less risky area of California is just subsidizing those who live in the risky areas. Premia across the board will increase as a result.
Typical California redistribution...but this is from the bottom to the top.