PERSONAL INSURANCE UPDATES
EMERGING LEGISLATION
New California legislation would require carriers in the state to take on a proportional amount of high-risk wildfire business in relation to their market share.
Colorado is planning a last-resort market like California's FAIR Plan to address wildfire risks.
Several CAT-prone states that have been hit hard by carrier exits, such as Florida and Georgia, are considering legislative action for more affordable insurance options.
“CAT risks are no longer confined to traditional hurricane zones or seasonal expectations.”
Bill Gatewood
Corporate
Senior Vice President
National Personal Insurance Practice Leader
Burns & Wilcox, Detroit/Farmington Hills, MI
