California is considering updates to Proposition 103, which currently limits insurance rate changes, to require firms to cover high-risk areas based on market share.
The proposal includes using "catastrophe modeling" to better assess wildfire risks, though its impact on rates is debated.
Experts worry that while these changes may attract insurers back, they could also raise costs for consumers.
Key quote:
"We are nervous. The reality is that prices are so high already, and affordability is so low right now."
— Amy Bach, executive director of United Policyholders
Wildfires regularly sweep through California, destroying forests and threatening homes. But a recent study shows an unexpected danger of the fires: They can shut down, or prevent access to, hospitals and other inpatient facilities.
Parts of Southern California were lashed by severe winds from a tropical storm that brought high humidity, rain and possible flooding to the parched region but also the promise of cooler temperatures after a 10-day heat wave.
