California bill bars insurers from declining fire coverage

Amid mounting cries of California homeowners being denied wildfire insurance in high-risk areas, lawmakers want to require insurance companies to cover all existing homes, as long as they meet new safety standards.

The measure, coming after years of deadly fires causing insurers to turn down more customers, would also require insurance companies to give homeowners financial incentives for fire safety upgrades. Existing homes that meet a new state standard for “fire-hardening” would not be denied coverage under the law.

The industry has resisted previous action to force companies to insure homeowners in high risk areas. Insurers say that devastating and more frequent blazes have jeopardized their profitability and capability to provide coverage. …

Click here to read the full article from Fox40 News.

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