Oregon bill would require home insurers to consider wildfire prevention efforts

Oregon homeowners who take steps to protect their homes from wildfire could pay less for property insurance under a southern Oregon state senator’s proposal to require insurers to consider fire prevention efforts when setting rates.

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Sen. Jeff Golden, D-Ashland, modeled his new bill after a similar Colorado law . It follows years of rising property insurance premiums and policy cancellations or nonrenewals across the country, particularly in the wildfire-ridden West.

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Under Golden’s bill, insurers would need to file their rate-setting models and other explanatory information with the Oregon Department of Consumer and Business Services, where they would be treated as confidential to protect the intellectual property associated with each insurer’s modeling. 

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“While there are still challenges for homeowners in portions of Oregon, we believe the insurance market is showing signs of greater stability, with a slowing rate of non-renewals and cancellations and premium increases that are coming closer to the overall rate of inflation,” Brine said.