California policymakers are planning changes to insurance laws as wildfires burn in Los Angeles but face a sector whose powerful lobbyists have largely thwarted past attempts to provide significant relief to homeowners.
The pending legislative efforts come as carriers have curtailed their footprint in the Golden State after years of destructive wildfire seasons. Carriers are frustrated with consumer protections that the industry contends have kept rates artificially low.
Insurance Commissioner Ricardo Lara (D) overhauled regulations last year, saying changes would spur companies to write more policies in risky areas because it would allow them to propose rates that account for ...