"A moratorium on insurance price increases during the pandemic only heightened tension within the insurance industry."
Insurers have no control over either construction costs nor wildfire risk. All they might do is adjust premiums to accurately reflect those costs. By raising premiums they discourage people from continuing to live in fire-prone and/or high construction cost areas.
Instead we put a price cap, taking away that mechanism, leaving insurers at the mercy of rising risk and costs, and preventing people from feeling the incentives to change things.
Insurers have no control over either construction costs nor wildfire risk. All they might do is adjust premiums to accurately reflect those costs. By raising premiums they discourage people from continuing to live in fire-prone and/or high construction cost areas.
Instead we put a price cap, taking away that mechanism, leaving insurers at the mercy of rising risk and costs, and preventing people from feeling the incentives to change things.