California AB2038 extends and tailors the nonrenewal moratorium for residential property insurance following wildfires.

California AB2038 extends the nonrenewal moratorium for residential property insurance following wildfires, ensuring homeowners have time to rebuild. The bill prohibits insurers from canceling or refusing to renew policies for at least three years post-wildfire, unless specific conditions are met. It also mandates insurers to adjust coverage and premiums based on changes in the insured's exposure to loss. The California Earthquake Authority must accommodate consumers in maintaining earthquake insurance coverage.

California AB2038 extends and tailors the nonrenewal moratorium for residential property insurance following wildfires.

California AB2038 extends the nonrenewal moratorium for residential property insurance following wildfires, ensuring homeowners have time to rebuild. The bill prohibits insurers from canceling or refusing to renew policies for at least three years post-wildfire, unless specific conditions are met. It also mandates insurers to adjust coverage and premiums based on changes in the insured's exposure to loss. The California Earthquake Authority must accommodate consumers in maintaining earthquake insurance coverage.