SACRAMENTO, CA — Today, Senator Scott Wiener (D-San Francisco) introduced SB 222, the Affordable Insurance and Climate Recovery Act, which California Environmental Voters (EnviroVoters) is sponsoring, along with the Center for Climate Integrity and Extreme Weather Survivors. SB 222 improves insurance affordability in California by shifting the burden of increased insurance costs away from California ratepayers to the fossil fuel companies driving the climate crisis, and makes victims of major climate disasters whole by allowing them to seek damages from fossil fuel companies in court.
Major fossil fuel companies intentionally misled the public for decades about the impacts of their products, and now Californians are paying the price with devastating wildfires, mud slides, sea level rise, and skyrocketing insurance costs. When climate disasters strike, SB 222 allows homeowners and businesses to recover damages from the fossil fuel companies responsible for the disasters.
The increasing frequency and severity of climate disasters has sent insurance prices skyrocketing across California and has pushed many families into the state’s insurer of last resort, the FAIR Plan. When the costs of climate disasters grow too high, both private insurers and the FAIR Plan recover losses by charging higher prices on California policyholders. By allowing insurance companies and the FAIR Plan to recoup losses for major climate disasters from the fossil fuel companies responsible for the damage, SB 222 provides a major infusion of financial support to stabilize the insurance market and contain the high cost of insurance for Californians.
“Californians are paying a devastating price for the climate crisis, as escalating disasters destroy entire communities and drive insurance costs through the roof,” said Senator Wiener. “Containing these costs is critical to our recovery and to the future of our state. By forcing the fossil fuel companies driving the climate crisis to pay their fair share, we can help stabilize our insurance market and make the victims of climate disasters whole.”
“Californians are enduring the devastating consequences of the fossil fuel industry’s pollution, devastating wildfires like those in Los Angeles, rising insurance costs, and communities pushed to their limits,” said Matt Abularach-Macias, LA resident and Deputy Campaigns Director, California Environmental Voters. “The Affordable Insurance and Climate Recovery Act gives those harmed by climate disasters the tools to recover their losses directly from the corporations that have profited while fueling the crisis. It’s a step toward justice for families forced to rebuild their lives and long-overdue accountability for polluters who must take responsibility for the devastation they’ve caused.”
###
CONTACT:
Erika Guzman Cornejo
(310) 755-1615
erika@envirovoters.org
Share this press release
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 Twitter, Facebook, and Instagram. See more press releases.
