California Insurance Code

§ 937

INS § 937 Effective Jan 1, 2026Div. 1 · Part 2 · Ch. 1 · Art. 10.85

Statute text

The Legislature finds and declares all of the following:

(a)Since 2006, the state of California has funded and undertaken four comprehensive climate change assessments designed to assess the impacts and risks from climate change. The most recent, California’s Fourth Climate Change Assessment, identified that if greenhouse gas emissions continue to increase, the frequency of extreme wildfires will increase.

(b)The Department of Insurance’s review of the multistate Climate Risk Disclosure Survey in 2023 showed that insurance companies commonly identified that the purchase of reinsurance is a primary strategy for addressing increased risks from catastrophic events such as wildfires and the use of catastrophe modeling is a prominent risk assessment tool.

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Legislative history

Added by Stats. 2025, Ch. 542, Sec. 1. (SB 495) Effective January 1, 2026.