In Wake Of Marshall Fire, Colorado Commissioner Considers State Insurance Fund

As home insurers abandon California due to devastating wildfires, some worry Colorado could be next.

"It’s something we need to be prepared for what the future could look like if we don’t help the market stabilize and keep insurance companies here," said Colorado Insurance Commissioner Mike Conway.

Lawmakers asked Conway to conduct a study on the availability and affordability of homeowners insurance according to zip code or county by county. He’s also studying whether it’s time Colorado had a state insurance fund.

We’re one of 17 states that doesn’t have one.

"I think that is part of the conversation," said Conway. He says it should be an insurer of last resort, not the main insurer as it’s become in Florida.