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Insurers are also required to increase coverage in wildfire-prone areas. -
California’s crisis spurred the biggest reforms in decades.
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The regulations are part of a state effort to expand wildfire coverage.
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Wildfire risk destabilized the state’s market, spurring regulator attention.
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Malibu, which has 10,000 residents, posted on social media on Wednesday that the fire was 7% contained.
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The fire started Monday night, with high winds predicted for Tuesday morning.
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The California fire was 91% contained as of Friday.
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The regulation is a key component of Lara’s effort to stabilize the state’s sputtering property market.
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High winds are expected to return to the area Tuesday, however.
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The wildfire in Ventura County was 7% contained as of Friday afternoon.
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The wildfire started Wednesday and is 0% contained so far.
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In an interview with this publication, Lara said "everything’s on the table" for future reforms.
