CA AB2167

Commissioner must investigate and study residential property insurance ratemaking in high fire risk areas and submit a report by July 1, 2022.

Report must address whether the commissioner can create market assistance plans to ensure residential property insurance is fair, available, and affordable in high fire risk communities.

Report must analyze the costs and benefits of allowing insurers to include reinsurance costs in residential property insurance rates, including impacts on consumers and the marketplace.

Report must examine whether establishing a public wildfire catastrophe model would be appropriate for residential property insurance ratemaking, including analysis of probabilistic modeling methodologies.

Chapter repeals on January 1, 2025, and public participation proceedings must be conducted in accordance with Section 1861.10.