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The FIO has limited power, but it has attracted fierce industry opposition. -
The laws mandating payments were enacted after devastating fires in 2018.
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It is among the first bills to pass the House during Donald Trump’s presidency.
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The much-anticipated creation of a DOGE office is already being challenged in court.
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The regulator also emphasized the need for private flood insurance after hurricane Helene.
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Many are confident the regulatory changes will still stabilize the market in the near-term.
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America’s longest-serving insurance commissioner was one of the first regulators to focus on climate.
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III also denies its CEO made anti-gay remarks or harassed a gay employee.
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CA insurers can now use forward-looking cat models in ratemaking.
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Insurers are also required to increase coverage in wildfire-prone areas.
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California’s crisis spurred the biggest reforms in decades.
