TO: Board of Supervisors
FROM: Ryan J. Alsop, County Executive Officer
REPORT BY: Andrew M. Mize, Legislative & Policy Analyst
SUBJECT: California Property Insurance Market
RECOMMENDATION
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Receive a presentation on recent actions of the State Insurance Commissioner to improve conditions in California’s property insurance market and potential next steps. (No Fiscal Impact, Discretionary)
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BACKGROUND
Since 2019, Napa County and its residents have invested millions of dollars in residential-scale and landscape-scale fire hazard mitigation projects. However, residential and commercial property owners continue to feel the squeeze of a shrinking property insurance market, with significant premium increases, notices of non-renewal, or refusals to issue new coverage occurring regularly.
This update shares proposed rules by the State Insurance Commissioner issued in 2024 as part of his Sustainable Insurance Strategy and the potential impacts of those rules to Napa County. The discussion will include potential points of advocacy in the future for the broad purpose of strategically positioning the County to benefit from regulatory reforms.
PROCEDURAL REQUIREMENTS
1. Staff report and presentation
2. Board questions for staff
3. Public comment
4. Provide direction to staff as appropriate
FISCAL & STRATEGIC PLAN IMPACT
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Is there a Fiscal Impact? |
No |
ENVIRONMENTAL IMPACT
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