Mercury Insurance Launches Homeowners Policies in Paradise

Mercury Insurance has announced it will start writing new homeowners insurance policies in Paradise, California, marking the first major insurer to return since the catastrophic Camp Fire in November 2018. This decision was influenced by the efforts of local officials and residents to enhance wildfire resilience through updated urban planning and compliance with safety standards recommended by the Insurance Institute for Business & Home Safety. California Department of Insurance Commissioner Ricardo Lara's Sustainable Insurance Strategy also played a crucial role in facilitating this return. Victor Joseph, Mercury's COO, expressed confidence that Paradise could serve as a model for other fire-prone areas. In addition to homeowners insurance, Mercury is prepared to assist policyholders affected by recent wildfires in Southern California and is equipped to provide support for claims and temporary housing. The rebuilding efforts in Paradise are viewed as a significant step towards community resilience against future wildfires.