The dangers and costs associated with wildfires are rising and predicted to escalate rapidly in decades to come, primarily because of continued home development on fire-prone lands and the effects of climate change. Those interested in reducing wildfire risk have asked whether insurance can play a role in making new and existing homes safer. In this briefing paper we explore two questions: 1) Do insurance rates and policies steer new development away from fire-prone lands? 2) Do insurance rates and policies reduce the risk from wildfires to existing development? We answer these questions by reviewing studies and news articles, examining trends, and interviewing insurance industry experts.