Understanding the new California wildfire rating requirements
If you work for an insurance company that differentiates its California property rates by risk of wildfire, you may be trying to understand what impact Regulation 2644.9 has on your business. Designed to reduce insurance costs for policyholders who take measures to mitigate their wildfire risk, this new regulation presents tremendous challenges for insurers in terms of compliance and the potential erosion of adequate rates for wildfire risk. This paper recaps the changes and offers best practices and strategic insights to help insurers address these challenges and make informed decisions about how to move forward.