Insurers warn Newsom wildfire plan could push up California homeowners' premiums

CEOs from 15 major insurers warn Gov. Newsom’s plan to end (and gradually phase out) subrogation for wildfire losses could raise homeowners’ premiums statewide and destabilize California’s insurance market. The updated proposal would still eliminate the right to recoup losses from utilities, with rate impacts potentially tied to future regulatory approvals; writing is due by Friday as the legislative session winds down, and critics argue costs could spike, especially in high-risk areas.