The RAND Kenneth R. Feinberg Center for Catastrophic Risk Management and Compensation, or Feinberg Center, seeks to identify and promote laws, programs, and institutions that reduce the adverse social and economic effects of natural and manmade catastrophes by
Lloyd Dixon, director of the Feinberg Center, recently briefed the members of the Democratic Caucus of California State Legislature on the impacts of wildfires on California’s residential insurance market.
He discussed several indicators of challenges facing California’s residential insurance market including the factors driving insurer decisions to limit new policies in the state, the implications of reforms that would increase the willingness of private insurers to provide coverage, and the benefits and drawbacks of requiring insurers to make coverage available in certain circumstances in return for regulatory or legislative reforms.
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