On this edition Your Call, we're discussing the devastating effects of the ongoing Los Angeles fires and their impacts on California’s home insurance market.
Year after year, wildfires have driven insurance companies to drop coverage. Just weeks ago, new rules were put in place to try and lure providers back into the market. As climate change fuels larger and more destructive fires, how can people be made whole and live with financial security?
Guests:
Dave Jones, director of the Climate Risk Initiative at UC Berkeley’s Center for Law, Energy and the Environment, and former California Insurance Commissioner
Jake Bittle, staff writer at Grist covering disasters and climate adaptation, and author of the 2023 book, "The Great Displacement Climate Change and the Next American Migration"
Resources:
The Guardian: After the fire, the insurance battles: LA victims’ ordeal may just be beginning
Grist: California overhauled its insurance system. Then Los Angeles caught fire.
UC Berkeley Law: Federal Reinsurance for State FAIR Plans: A Policy Proposal to Assist State-Created Insurers of Last Resort