The Travelers Companies, Inc., a major U.S. insurance company, has notified the California Department of Insurance (CDI) of its intention to expand homeowners insurance coverage across the state through voluntary participation in the California Sustainable Insurance Strategy (SIS).
The initiative, championed by the state’s Insurance Commissioner Ricardo Lara, allows participating carriers to incorporate forward-looking wildfire catastrophe modeling and reinsurance costs into rates, with plans to write in high-risk communities.
Travelers is designed to support the state’s efforts to provide coverage to areas underserved by wildfires, another key element of SIS.
Additionally, Travelers is offering expanded discounts to homeowners who invest in wildfire mitigation. Updates like ember-proof vents, Class A roofs, and defensible spaces can improve qualifications and pricing.
Michael Klein, executive vice president and president of personal lines at Travelers, commented: “California homeowners want reliable, affordable coverage and service from financially strong insurance companies they can trust.
“Providing risk-based insurance pricing helps provide a fair, competitive and healthy market for all participants. It will also allow us to operate responsibly across the state while supporting our ability to meet our obligations and deliver on our commitments to our customers.”
Earlier this month, Travelers reported a significant jump in net profit to $1.711 billion in 1Q26 from $395 million in 1Q25, driven by lower catastrophe losses and higher net investment income.
