RCRC has expressed support for the Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act (H.R. 6944), which promises to have a positive impact on the availability and affordability of property insurance in California, particularly in high wildfire risk areas where insurers are currently withdrawing from the market.
Specifically, the INSURE Act has the potential to aid property owners by creating a catastrophic property loss reinsurance program, thereby alleviating the cost and availability issues currently challenging insurers nationwide. The INSURE Act will also benefit homeowners by creating a grant program to promote loss prevention investments, which is particularly useful in rural California communities with large populations of socio-economically disadvantaged residents. While home hardening measures for wildfire mitigation are crucial to decreasing loss potential for insurers, they can often be costly and necessitate investment for certain sectors of the population.
Introduced by Representative Adam Schiff (D-Burbank), this measure is currently co-sponsored by eleven congress members, including six California Representatives: Zoe Lofgren (D-San Jose); Mike Tompson (D-St. Helena); Julia Brownley (D-Oakpark); Anna Eshoo (D-Menlo Park); Barbara Lee (D-Oakland); and Kevin Mullin (D-South San Francisco).
See RCRC’s letter of support here. For more information, contact RCRC Senior Policy Advocate, Staci Heaton.