SACRAMENTO -- California has seen the cost of fighting wildfires grow to record highs over the past decade. Today, Sen. Bill Dodd, Insurance Commissioner Ricardo Lara, and Treasurer Fiona Ma proposed a new model to reduce wildfire risk with California Disaster Insurance (Senate Bill 290).
SB 290 authorizes the Governor, Insurance Commissioner, and Treasurer to enter into an insurance policy that pays out when California has unexpected costs for disaster response.