California REALTORS® support plans to stabilize availability of homeowners insurance

LOS ANGELES, Jan. 13, 2025 /PRNewswire/ -- The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) issued the following statement in response to actions announced last week to address California's insurance crisis and help homeowners affected by the Southern California wildfires.

"As Los Angeles reels from the devastating fires that have resulted in the loss of homes, businesses, schools, and neighborhoods, we are encouraged by the proactive measures taken by policymakers to tackle the homeowners insurance crisis.

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) has actively worked with state leaders since the beginning of the insurance crisis and is supporting Assembly Bill 226, authored by Assembly Insurance Committee Chair Lisa Calderon and Assemblymember David Alvarez and unveiled by Speaker Robert Rivas. The bill aims to alleviate uncertainty for FAIR Plan policyholders. C.A.R. also supports Insurance Commissioner Ricardo Lara's moratorium on homeowner insurance policy cancellations," said C.A.R. President Heather Ozur, a Palm Springs REALTOR®.

"In addition, C.A.R. continues to support the California Department of Insurance's 'Sustainable Insurance Strategy,' key pillars of which are now in place. This approach aims to remove barriers to insurance access, particularly for those in higher risk areas. As we now confront the significant aftermath of these fires, we will continue to work with government leaders on solutions to ensure that all homeowners have access to the homeowners insurance they need."

Leading the way…® in California real estate for nearly 120 years, the CALIFORNIA ASSOCIATION OF REALTORS^® (www.car.org) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Sacramento.

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SOURCE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)