Day: April 29, 2024

Will New Legislation Lure Property Insurance Providers Back to California?

Loreen
california property insurance

California’s Property Insurance Landscape through the Disaster Resiliency and Coverage Act In a significant move to address the growing challenges facing the property insurance market in California, Bay Area congressional representatives are spearheading an initiative designed to entice property insurance companies back into the state. Spearheaded by US Rep. Mike Thompson (D-St. Helena), the proposed bipartisan legislation seeks to mitigate insurance carriers’ losses by offering property owners financial incentives to enhance their emergency preparedness. Dubbed the Disaster Resiliency and Coverage Act (House Resolution 7849), the legislation was unveiled on Thursday…

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Colorado House passes gun insurance law to encourage firearms safety

Marc
Gun insurance - Colorado Law

The legislation was sponsored by Representatives Iman Jodeh and Steven Woodrow The Colorado House recently passed legislation to promote responsible firearms ownership by creating a requirement liability gun insurance. HB24-1270 passed the House by a vote of 33-29 Sponsored by Representatives Stephen Woodrow and Iman Jodeh, the purpose of the gun insurance law is to encourage owners of firearms to take greater efforts in the name of safety. “The costs of gun violence are staggering, and taxpayers are often left footing the bill. This legislation helps cover costs while promoting…

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