California's insurance regulation fixes came too little, too late

California 's insurance commissioner issued a moratorium on insurance companies canceling or not renewing policies in areas affected by the Palisades and Eaton fires.

California was "really on the precipice about a year ago of basically all the major carriers just pulling out of the state," says Ray Lehmann .

Lehmann : These reforms might be too little and come too late.

Insurance commissioner Lara's Sustainable Insurance Strategy officially went into effect on December 30 .

The Los Angeles area fires broke out a little over a week later .

Consumer advocates, who have traditionally challenged any attempted changes to Prop . 103 , will likely sue over the reforms.

The FAIR plan is capitalized through assessments on private insurers.

Those costs could then be passed on to policyholders.