Mercury Insurance, a leading provider of property and casualty insurance, is preparing a homeowners insurance rate filing utilizing the California Department of Insurance's $(CDI.NZ)$ recently approved Verisk Wildfire Model. This initiative follows the implementation of Commissioner Ricardo Lara's Sustainable Insurance Strategy. The strategy aims to expand insurance coverage options and enhance the resilience of the insurance marketplace in California. Mercury Insurance has already seen benefits from this strategy, having been the first to offer new policies in Paradise, CA, a town heavily impacted by wildfire in 2018. The effort reflects a collaboration between Commissioner Lara, the City of Paradise, and various organizations to foster a sustainable and robust insurance framework in wildfire-prone areas.
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