California residents are among the most housing-cost burdened in the U.S., and some estimates suggest that the state’s housing shortage is as high as 3.5 million units. Increased insurance costs are exacerbating California’s affordability crisis, in large part, because climate-fueled megafires are pushing major insurance providers to exit the state, resulting in fewer options and significantly more expensive coverage costs for homeowners.
A competitive, transparent, and accessible homeowners insurance market is critical to help California residents afford their homes. Lacking comprehensive reform, rising costs and dwindling coverage could price residents out of Los Angeles and other disaster-prone parts of the state. Yet current proposals face financial, political, and regulatory challenges.
With generous support from Bank of America and in partnership with the Department of Angels, New America is hosting an invite only half-day workshop on Wednesday, September 17th from 12:00pm - 6:00pm to explore the interrelated challenges of housing affordability, homeowners insurance, and megafires. We’ll convene a diverse range of stakeholders to understand the long-term implications of California’s homeowners insurance crisis for housing affordability and security, and start a conversation about a future in which insurance is not a major challenge to living and working in California.
Lunch served. Coffee, light refreshments, and snacks provided. Reception to follow.
Agenda:
- Arrival & Check-in (12:00pm - 12:30pm)
- Welcome, Keynote & Lunch (12:30pm - 1:15pm)
- Keynote Address by California State Senator Ben Allen
- Lightning Talks: “How Did We Get Here?” (1:15pm - 2:00pm)
- Scott Epstein, Abundant Housing LA
- Michael Wara, Stanford University
- Nuin-Tara Key, California Forward
- Deep Dive: Statewide Implications of the Insurance Crisis (2:00pm - 2:45pm)
- Networking Break (2:45pm - 3:00pm)
- Discussion I: Insurance Market Reforms (3:00pm - 3:45pm)
- Deborah Halberstadt, California Department of Insurance
- Discussion II: Housing & Infrastructure Reforms (3:45pm - 4:30pm)
- Ben Stapleton, USGBC-CA
- Plenary: “Where Do We Go Next?” (4:30pm - 5:00pm)
- Reception (5:00pm - 6:00pm)
Additional speakers to be announced at a later date.
