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Insurance market stabilization is focus of new working group

In an effort to help address California’s growing insurance crisis, Senate President pro Tempore Mike McGuire (D-North Coast) recently announced the formation of the Senate’s Insurance Working Group. The group is tasked with finding legislative pathways to help stabilize the insurance market for homeowners and consumers across the state, and explore how to reduce the risk of homes lost to wildfires.

Members of the group include: Co-Chairs Majority Leader Lena Gonzalez (D-Long Beach) and Insurance Committee Chair Senator Susan Rubio (D-Baldwin Park), Senator Marie Alvarado-Gil (D-Jackson), Senator Josh Becker (D-Menlo Park), Senator Catherine Blakespear (D-Encinitas), Senator Dave Cortese (D-San Jose), Senator Bill Dodd (D-Napa), Senator John Laird (D-Santa Cruz), Senator Monique Limón (D-Santa Barbara), and Senator Steve Padilla (D-San Diego).

“California is making historic investments to reduce fire risk, make our communities more fire safe, and aggressively respond to wildfire. That said, despite these massive investments, and along with the solutions Governor Newsom and Commissioner Lara have implemented, more must – and can – be done to stabilize the market. Too many Californians are being left without options to protect their families and insure their life possessions,” Pro Tem McGuire said. “I’m incredibly grateful to these Senators who have stepped up and will be working hard to tackle the state’s insurance crisis and find additional real, meaningful solutions to meet this moment.”