"We are at a major crossroads on insurance after multiple years of wildfires and storms intensified by the threat of climate change. I am taking immediate action to implement lasting changes that will make Californians safer through a stronger, sustainable insurance market," California Insurance Commissioner Ricardo Lara said in a release. "The current system is not working for all Californians, and we must change course." Credit: Mario Cobian/Adobe Stock

California Governor Gavin Newsom signed an executive order requesting that the state's insurance regulator take "prompt regulatory action" to correct the state's faltering property insurance market and to consider if emergency regulatory actions are needed.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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