D0DA5F1F79DAB3CD8725872F0057D5DF Hearing Summary CLICS/CLICS2021A/commsumm.nsf PUBLICBILL SUMMARY For INSURANCE ISSUES AND WILDFIREINTERIM COMMITTEE WILDFIRE MATTERS REVIEW COMMITTEEDate Aug 12, 2021 Location Old State Library Insurance Issues and Wildfire - Committee Discussion Only 09:59:27 AM Commissioner Michael Conway, Colorado Division of Insurance, presented to the committee regarding homeowner's insurance and wildfire issues, using a power point. The Commissioner's presentation, and all other presentations may be accessed here: http://leg.colorado.gov/content/iwmrc2021acommsched. He discussed different types of homeowner's insurance and insurance's role in wildfire recovery. Commissioner Conway discussed the availability and affordability of insurance and the claims process. He provided data on insurance claims from the 2020 wildfires in Colorado, and summarized other states' approaches to insurance and disaster mitigation. 10:21:50 AM Carole Walker, Rocky Mountain Insurance Association (RMIA), presented to the committee regarding insurance and wildfires, using a powerpoint. She discussed increased insurance claims related to catastrophes in Colorado, increased home building costs, and the importance of mitigation. Ms. Walker discussed educating homeowners and communities on the risks of wildfire and the importance of insurance. 10:43:37 AM Ms. Walker and Commissioner Conway responded to committee questions regarding homeowner incentives to mitigate their property, insurance company profits, a state-sponsored insurance pool, and issues with insurance adjusters.