New Model Proposed to Reduce Wildfire Risk with California Disaster Insurance
15 February 2019
Published by http://www.ksro.com/
USA – A new model is being proposed to reduce wildfire risk with California Disaster Insurance. Senator Bill Dodd of Napa introduced Senate Bill 290 Thursday saying something needs to be done as wildfires are increasing in the state.
SB 290 would function like home insurance, but for the state, allowing California to pay a premium using a portion of existing emergency funds that would trigger a payment to the state in the event of a disaster. Senator Dodd said rising wildfire suppression costs can strain California’s financial resources and threaten cuts to other critical programs as climate change continues to contribute to devastating fires. Insurance Commissioner Ricardo Lara supports the bill and says its a better solution that gives taxpayers the benefit of predictable costs to invest in a safer future. California spent 947-million-dollars in 2017-2018 through the emergency fund for firefighting, nearly 450-million-dollars more than budgeted, according to Cal Fire.
