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      "text": "In the context of recent wildfires in the State of Colorado, Senate Bill 22-206 was passed, seeking ways of addressing the stability, availability, and affordability of homeowner insurance in the Centennial State.",
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      "text": "In the context of recent wildfires in the State of Colorado, Senate Bill 22-206 was passed, seeking ways of addressing the stability, availability, and affordability of homeowner insurance in the Centennial State. The Division of Insurance (DOI) is responsible for the fulfillment of this mandate and engaged Oliver Wyman to conduct a study on its behalf, evaluating the situation of insurance availability & affordability for homeowners in Colorado. In order to evaluate the situation, Oliver Wyman performed two types of assessments: A quantitative assessment which analyzes granular data collected from insurance carriers, and A qualitative assessment which summarizes feedback provided by carriers and industry associations regarding insurance availability/affordability in Colorado and possible approaches to address these issues.",
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      "text": "For each component of the availability & affordability assessment, our work involved the following steps: A. Quantitative Assessment: Create a data collection framework that will enable a granular analysis of availability & affordability of homeowners insurance products in Colorado. Manage the data collection process with insurance carriers. Assess recent trends in Colorado homeowner insurance, with a specific focus on whether affordability and availability of coverage is currently under pressure in some regions. Assess whether these trends are tied to the wildfire exposure in the state, which has caused significant losses in the recent years. B. Qualitative Assessment: Survey insurance carriers on their current underwriting & pricing methodologies, with a particular focus on their treatment of wildfire risk. Research existing property insurance availability programs in other states and provide recommendations for Colorado regarding development of a similar program.",
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