Property insurance companies warn of rising costs under Gov. Newsom's wildfire proposal

PG&E, Edison plunge as California lawmakers block Newsom's wildfire insurance plan (PCG:NYSE)

Shares of California utilities PG&E and Edison slide as lawmakers block Governor Gavin Newsom’s wildfire liability plan.

California lawmakers block Newsom's push to prevent insurance companies from suing utilities that cause wildfires

California lawmakers have blocked Gov. Gavin Newsom from pursuing his plan to prevent insurance companies in California from recouping their losses from investor-owned utilities that cause a catastrophic wildfire, multiple sources confirmed to KCRA 3 on Friday morning.

Property insurance companies warn of rising costs under Gov. Newsom's wildfire proposal

The CEOs of 15 major insurance companies are warning that Gov. Gavin Newsom’s proposal to shift wildfire-related costs to insurers could lead to higher rates for Californians and destabilize the state’s insurance market.

Insurance executives warn Newsom plan to shift utility wildfire liability would raise premiums

Insurance company executives warned Gov. Gavin Newsom in a letter Wednesday that his plan to shift utility wildfire liability to property insurers would hike premiums.

With clock ticking, California lawmakers reject key parts of Newsom’s wildfire plan

Gov. Gavin Newsom is rushing a plan to provide financial relief to utilities facing massive lawsuit payouts because of California wildfires. Some lawmakers are fighting it.