"The changes I’m announcing today are aimed at modernizing the insurance market and protecting consumers," Insurance Commissioner Ricard Lara said at a Thursday news conference.
"It is critical that California’s insurance market works to protect homes and businesses in every corner of our state," Newsom said in a statement announcing the order. "A balanced approach that will help maintain fair prices and protections for Californians is essential." Some companies, including State Farm and Allstate, have already announced they will stop issuing policies in California, and others are limiting policy renewals.
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