California Fire Volunteer
As climate change heightens fire risks, insurers leave the state and lawmakers do nothing to keep them here.
As a string of last-minute deals surfaced this week before tonight’s end of the legislative session, one highly anticipated proposal was not among them—a plan to keep insurance companies in California even as the financial risk from wildfires grows.
A key deadline passed Monday night without a bill, dooming the effort for the year, despite involvement from legislative leaders, Insurance Commissioner Ricardo Lara and Gov. Gavin Newsom. Negotiators struggled to find a balance between loosening regulations on an insurance system that has been pushed to the brink and maintaining protections for homeowners who could face much higher premiums to stabilize the industry, a politically fraught prospect.