INS §12922.5: (a) The commissioner shall convene a working group to identify, assess, and recommend risk transfer market mechanisms that: (1) Promote investment in natural infrastructure to reduce the risks of clim

(a) The commissioner shall convene a working group to identify, assess, and recommend risk transfer market mechanisms that: (1) Promote investment in natural infrastructure to reduce the risks of climate change related to catastrophic events. (2) Create incentives for investment in natural infrastructure to reduce risks to communities. (3) Provide mitigation incentives for private investment in natural lands to lessen exposure and reduce climate risks to public safety, property, utilities, and infrastructure. (b) To the extent that the working group recommends risk transfer market mechanisms that would be provided by insurance and reinsurance companies, the working group shall recommend mechanisms that: (1) Are profitable to insurance and reinsurance companies. (2) If appropriate, apply to communities or regions, rather than individual land parcels. (c) The policies recommended pursuant to subdivisions (a) and (b) shall include all of the following questions: (1) What are the California analogies to examples in other countries for creating incentives for investment in natural infrastructure as part of insurance policies that mitigate elemental risks? (2) Can we use insurance to create incentives for wetland restoration to help defend the coast against storm surge? (3) Can we create incentives for forests to be managed to reduce the risk of major fires? (4) Can we reduce the exposure of insurance companies to climate change-related losses through innovative state policies or insurance pricing mechanisms that reward good behavior and charge premiums for actions that increase public safety risks or losses of property or environmental attributes? (5) Can we develop rating systems based on community risk factors to climate events, and use insurance incentives to make a community more resilient?