![\"\"](\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2020\/03\/gavinsigning-400x250-1.jpg\")
<\/a><\/p>\n\u201cThis is another critical action to help fix California\u2019s decades-old insurance crisis. It will help homeowners who face higher threats of wildfire get the coverage they need, while also easing pressure off of the state\u2019s FAIR Plan. As the climate crisis has rapidly intensified, the insurance system hasn\u2019t been seriously reformed in 30 years \u2013 this is part of our strategy to strengthen our marketplace and get folks the coverage they need.\u201d <\/p>\n
Governor Gavin Newsom
\nLast year, Governor Newsom called for swift regulatory action to strengthen and stabilize California\u2019s marketplace with a focus on creating a better rate approval process, building a stronger FAIR Plan, and accelerating the implementation of regulations.<\/p>\n
Just last month, the Newsom Administration released a proposal to increase the transparency and speed of rate change application approval timelines, while remaining consistent with Proposition 103\u2019s consumer protections from excessive, inadequate, and unfairly discriminatory insurance rates.<\/p>\n
Insurance rates nationwide have been on the rise due to the impacts of the climate crisis. California rates have been below the national average and significantly less than some other states, with the average yearly cost for $300,000 homes at:<\/p>\n
California \u2013 $1,405
\nNational \u2013 $2,601
\nTexas \u2013 $3,851
\nFlorida \u2013 $4,419<\/p>\n","protected":false},"excerpt":{"rendered":"
Sacramento, CA…A new draft regulation announced by California Insurance Commissioner Ricardo Lara will require that insurers that use new catastrophe modeling must write more policies in distressed areas, with larger insurance companies required to insure properties in distressed areas at a rate equal to 85% of the insurer\u2019s statewide market share. This is part of […]<\/p>\n","protected":false},"author":1,"featured_media":98233,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,5,1],"tags":[],"class_list":["post-179929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2020\/03\/gavinsigning-400x250-1.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/179929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=179929"}],"version-history":[{"count":1,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/179929\/revisions"}],"predecessor-version":[{"id":179930,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/179929\/revisions\/179930"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/98233"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=179929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=179929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=179929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}