Plan proposed to stabilize CA property insurance market by 2025
As California struggles to keep some of the nation's largest property insurers in the state, California Insurance Commissioner Ricardo Lara on Wednesday told state lawmakers the state's market could stabilize under his proposed plan by 2025, but it will mean higher prices for consumers. Lara testified in front of the Assembly Insurance Committee in Pasadena, the first of what's expected to be several oversight hearings on the issue as he works to solidify his plan.
