A mansion burns in the Mountain Fire that struck in Camarillo, California, on November 6. New emergency home insurance regulations, revealed Monday, will require providers in the state to insure homes in high risk and wildfire-prone areas. File Photo by Allison Dinner/EPA-EFE
Jan. 1 (UPI) — New emergency insurance regulations in California will require home insurance providers write more policies, including in high-risk wildfire-prone areas, to ease the state’s insurance crisis. The new state rules, released for the start of the new year, will force insurers to sell policies equal to 85% of their statewide market share, which could send rates soaring up to 40% higher, according to critics. Advertisement
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