Insurance
Aug. 30, 2023
Rumored plan to alter fire insurance market already drawing fire
Consumer Watchdog founder Harvey Rosenfield said he has not seen proposed bill language but that he had heard it mimics steps taken in Florida to shore up that state’s climate-stressed insurance system.
Plaintiffs’ attorneys and consumer advocates are warning that a rumored plan to make changes to California’s fire insurance market could backfire.
“Insurance companies are seeking a multi-billion dollar bailout of the insurance industry for its exposure to wildfire losses, pushing for a last-minute deal at the end of the legislative session,” Consumer Watchdog said this week.
The group pointed to an article publi...
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