California
Newsom's plan to speed up insurance rate hikes assailed
California's insurance industry has melted down in the wake of massive wildfires in recent years that have cost billions of dollars in claims.
Gov. Gavin Newsom’s new proposal to speed approval of rate hikes for most types of property insurance and help stabilize a collapsing market will cost Californians billions of dollars, consumer advocates said Wednesday.
Insurers contend the plan lang... [5942 chars]