The remains of a burned home in Berryessa Highlands on Sept. 21, 2020. Photo by Anne Wernikoff for CalMatters
LEVI SUMAGAYSAY
CalMatters.orgWith more California homeowners just discovering their insurance policies are getting canceled — and hundreds of thousands of others stuck with a pricey option of last resort — state Insurance Commissioner Ricardo Lara’s efforts to fix the home insurance market can’t come quickly enough.Lara has introduced two main regulations, with more to come. The first, unveiled last month, aims to streamline rate reviews. State law gives the Insurance Department the power to approve or deny insurers’ requests to raise premiums. Insurance companies complain the process has been holding up the increases they seek as a result of what they say are increased costs due to rising climate-change risks and inflation.The second regulation will let insurers us
