The state plans to allow insurers to take climate change into consideration when setting their rates. California intends to let home insurance companies factor climate change into the way they calculate their rates, according to the chief regulator for the state. The goal is to help prevent the loss of insurers from the state due to the rising risk of wildfires. Wildfires, mudslides and other natural disasters associated with climate change have become increasingly commonplace and severe in the state. This has wreaked havoc on the coverage industry, which is…
Read MoreCalifornia examines new home insurance pricing strategy for wildfire crisis
