Wildfires: insurance.

Existing law generally regulates classes of insurance, including residential property insurance. The Insurance Rate Reduction and Reform Act of 1988, an initiative measure enacted by Proposition 103, as approved by the voters at the November 8, 1988, statewide general election, prohibits specified insurance rates from being approved or remaining in effect that are excessive, inadequate, unfairly discriminatory, or otherwise in violation of the act. In considering whether a rate is excessive, inadequate or unfairly discriminatory, existing law requires the Insurance Commissioner to consider whether the rate mathematically reflects the insurance company's investment income. Existing law…