George Skelton: Newsom finally gets moving on fixing California's homeowner insurance crisis
SACRAMENTO, Calif. — Gov. Gavin Newsom has proposed urgency legislation to expedite the hiking of homeowner insurance rates. It's about time. Because the alternative for many is no insurance at all.
As California property owners are acutely aware, several major insurers have stopped issuing new policies and ceased renewing old ones because, they say, they're money losers.
Devastating wildfires and other natural disasters resulted in insurers paying out $1.13 in claims for every $1 taken in from premiums during the 10-year period ending in 2022, the industry says.
Insurers contend — and state officials agree — that
