Addressing Catastrophe Insurance Challenges
When the unexpected happens—from earthquakes, wildfires, and tornadoes to winter storms, hurricanes, and flooding—insurers work to deliver on their promises to policyholders. GrOW will continue to advocate for smart policy reforms that improve our nation’s response to natural and man-made disasters, protecting our communities, and reducing the burden on taxpayers. A major focus of these efforts includes advocating for adoption of the Wildland Fire Commission recommendations. We will also continue to focus on addressing the challenges of catastrophe insurance, including the government’s role, private market development, risk mitigation, resilience, and sustainability efforts.
Protecting Risk-Based Pricing
Risk-based pricing is the fairest way to match insurance rates to risk, ensuring no one is paying more for coverage than they should. For decades, insurers have used a wide variety of objective data to help determine risk in order to keep insurance affordable, competitive, and accessible for consumers. We will continue to work with policymakers to preserve risk-based pricing, promote rate adequacy, and oppose efforts to redefine unfair discrimination.
Tackling Automobile Insurance Cost Drivers
A number of factors can impact automobile insurance rates, but safety tops the list. That’s why we work with policymakers, member companies, and consumers to promote driver safety and enact highway safety laws that protect motorists and pedestrians, while keeping automobile insurance costs stable. In addition to supporting critical safety priorities, GroW also addresses other contributors that drive up auto insurance costs, including hostile auto repair initiatives, predatory towing practices, auto salvage tilting processes, and more.
Supporting Balanced Utility Liability Policies
Utility-caused wildfires have resulted in billions of dollars in insured losses and tragic loss of life across the United States. In response, several states have enacted legislation to limit utility liability, often shielding utilities from damages if they comply with approved wildfire mitigation plans. While these measures aim to encourage prevention and infrastructure improvements, overly broad liability shields may leave individuals and businesses without adequate means to recover losses and rebuild after catastrophic events. GrOW continues to advocate for balanced policies that protect consumers’ rights to recover damages from responsible parties.