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Experts tell Senate committee long‑term market stability depends on risk reduction, standardized mitigation data and community hardening
Summary
Actuaries and wildfire experts told the committee that reducing structural ignition risk and creating standard, parcel‑level mitigation data are essential to making insurance affordable and available at scale.
Actuaries, fire scientists and risk‑modeling experts told the Senate Insurance Committee that stabilizing California’s homeowners insurance market requires systemic risk reduction — parcel and community mitigation, standardized data on mitigation measures, and practical strategies to retrofit existing homes.
Nancy Watkins, a principal and consulting actuary at Milliman, described a multi‑step approach that aligns mitigation measurement, community standards, and insurance pricing: measure parcel‑level mitigations and community fire‑protection capabilities, standardize and…
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