Commentary: How home insurers are trying to bully California politicians into a disastrous bailout
by Harvey Rosenfield, Los Angeles Times
Sep 08, 2023
3 minutes
Insurance companies collected more than $150 billion in premiums from California homeowners over the last 25 years and enjoyed profits at four times the national average. Now they’re demanding an unprecedented bailout from the California Legislature as the price of continuing to do business here in the wake of wildfire losses.
Industry lobbyists are reportedly negotiating with lawmakers, Insurance Commissioner Ricardo Lara and Gov. Gavin Newsom’s office toward a deal that would be unveiled
You’re reading a preview, subscribe to read more.
Start your free 30 days