Can California’s Existential Insurance Crisis be Solved by New State Regulations?

California property owners are not legally required to carry insurance, but most do for protection against wildfires and other risks. Insurers, facing increasing wildfire threats, are now required to use computer modeling to set premiums and expand coverage in high-risk areas. While some support these changes, Consumer Watchdog criticizes the lack of transparency in rate-setting. The new rules aim to maintain a viable insurance market, crucial for the state's economy, despite potential premium increases.