"California's Governor Implements Sweeping Home Insurance Reforms to Address Climate Risks"

Governor Gavin Newsom has signed an executive order urging Insurance Commissioner Ricardo Lara to take swift action to stabilize and improve California's property insurance marketplace in the face of increasing climate change-related threats. The order aims to expand coverage choices for consumers, improve the rate approval process, maintain the solvency of the FAIR Plan, and accelerate the implementation of potential regulations. The goal is to strengthen the marketplace while ensuring fair prices and protections for Californians.