As Wildfires Rage, California Presses Insurers to Cut Rates – Reports

As Wildfires Rage, California Presses Insurers to Cut Rates

Faced with the twin climate crises of historic wildfires and spiraling insurance costs, California on Wednesday laid out new rules to make insurance more affordable in fire-prone areas. But the changes could backfire, experts say — pushing insurers to stop offering insurance in those areas and further imperiling communities on the front lines of climate change.

The changes are the latest round in the struggle between California regulators and the insurance industry, which has experienced…

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