SACRAMENTO, CA — Members of the Affordable Insurance Now coalition responded today to the latest update on an upcoming report on addressing wildfire impacts by the California Earthquake Authority (CEA). The CEA presented an update on report progress via a public webinar and coalition members slammed the glaring omission of the role oil and gas corporations played in creating the wildfire conditions California faces today.
“The update makes clear what we already know: California’s climate-fueled disasters are becoming more frequent and severe, and communities are facing mounting costs to recover. But it leaves out the fossil fuel companies whose pollution helped fuel this crisis and must pay for the mess they’ve made,” said Mary Creasman, CEO of California Environmental Voters. “That’s exactly what the Affordable Insurance and Recovery Act does. Making Big Oil pay their fair share so families aren’t left covering the costs of wildfires, floods, and other disasters has to be part of the solution.”
California Environmental Voters and other groups are sponsoring the Affordable Insurance and Recovery Act (SB 982, the AIR Act) which would create a new pathway to lower premium hikes and stabilize the insurance market. By authorizing the Attorney General to take multi-billion dollar multinational oil and gas corporations to court for increases related to climate change-fueled extreme weather disasters, like fires and flooding, the AIR Act will reimburse California residents for home insurance costs that rise due to a climate disaster.
“Californians who can least afford it are paying for weather disasters in the form of rising bills, loss of coverage, and delay or denial of insurance benefits they are owed,” said Carmen Balber, executive director of Consumer Watchdog. “This report must recognize that it’s time to stop letting oil corporations off the hook for their fair share of the costs of worsening weather.”
Today’s update offered a preview of how the increasing financial costs of wildfires could be divided across the for-profit utilities, the state, wildfire survivors and utility ratepayers. But, advocates say, the multinational oil and gas corporations whose products drove the climate conditions that have worsened wildfire impacts are left off the hook.
“The number of people traumatized by these events grows with every disaster, and we know these disasters are happening more frequently and getting more costly,” said Sierra Kos, Executive Director of Extreme Weather Survivors, another sponsor of SB 982. “California ratepayers should not be the only ones on the hook for steep insurance rate increases. We need immediate action from state legislators to help ensure the multinational fossil fuel corporations reporting record profits also pay for their fair share of skyrocketing costs.”
The CEA is required to deliver its final report to the governor and legislature by April 1.
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CONTACT:
Erika Guzman Cornejo
(310) 755-1615
erika@envirovoters.org
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ABOUT CALIFORNIA ENVIRONMENTAL VOTERS
California Environmental Voters (EnviroVoters) believes the climate crisis is here and this moment requires transformative change. California has the policy solutions to stop climate change but lacks the political will to do it at the rate and scale that’s necessary. EnviroVoters exists to build the political power to solve the climate crisis, advance justice, and create a roadmap for global action. We organize voters, elect and train candidates, and hold lawmakers accountable for bold policy change. We won’t stop until we have resilient, healthy, thriving communities, and a democracy and economy that is just and sustainable for all. Join us at www.envirovoters.org and on Instagram, LinkedIn, and X. See more press releases.
