Gov. Gavin Newsom signed a bipartisan package of bills last week aimed at improving California’s insurer of last resort for fires, the California FAIR Plan, following a reported $4 billion loss.
That loss, officials say, is primarily due to the devastating fires that broke out in Los Angeles County earlier this year.
Newsom’s office says the legislation is designed to stabilize the state’s home insurance market and protect residents from climate-driven disasters…