Commissioner Lara submits first-in-nation wildfire safety regulation to drive down cost of insurance

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Ricardo Lara is California’s 8th Insurance Commissioner since voters created the elected position in 1988. Valley News/California Department of Insurance photo
SACRAMENTO – California Insurance Commissioner Ricardo Lara submitted his insurance pricing regulation to the California Office of Administrative Law that would recognize and reward wildfire safety and mitigation efforts made by homeowners and businesses. The regulation is the first in the nation requiring insurance companies to provide discounts to consumers under the Safer from Wildfires framework created by the California Department of Insurance in partnership with state emergency preparedness agencies.The Office of Administrative Law has 30 working days to determine whether the proposed regulation satisfies the requirements of the state’s Administrative Procedure Act. Once approved, the regulation text will be filed with the California Secretary of State and become state law.
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