Lawmakers in wildfire-prone states are reaching for a new way to make property insurance less expensive and more available: making insurers show customers how to reduce their risk.
Legislation in three Western states would require insurers to tell policyholders how their property’s wildfire risk was calculated — and how to lessen it, potentially garnering premium discounts.
Supporters say the measures could transform the relationship between policyholders and insurers, making them partners in adapting to climate change.
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Governments, insurance companies and policyholders could “all work together to stabilize insurance markets,” said Jordan Haedtler, climate finance strategist for the environmental group Climate Cabinet.
