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California Lawmakers Form Wildfire Insurance Group as Insurers Exit Market Amid Rising Consumer Cost Concerns

California lawmakers are forming a wildfire insurance working group to address the state’s crumbling wildfire insurance market. The move comes six months after a push for wildfire insurance legislation stalled due to concerns about consumer costs. State Sen. Bill Dodd, a Democrat from Napa County, announced that insurers are fleeing the state. Governor Gavin Newsom also announced plans to speed companies’ rate requests through review by the Insurance Department.

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