CA SB1359

Insurance Commissioner must convene a stakeholder group by March 1, 2021 to review the actuarial soundness of residential property insurance rates in light of current wildfire risks.

Stakeholder group must recommend changes to state law governing residential property insurance rates specifically for communities located in high-risk wildfire areas.

Recommendations must include incentives for homeowners and communities that meet defensible space requirements as certified by a public fire agency or other authorized entity.

Commissioner must post the stakeholder group's recommendations on its website by December 31, 2021.