California Imposes $1 Billion Assessment on Insurers Following Devastating LA Fires

In a bold response to the recent destructive wildfires that ravaged Los Angeles and its surroundings, California's government has enacted a substantial $1 billion assessment on insurance companies. This unprecedented move aims to bolster the state's Wildfire Fund, ensuring that victims of these catastrophic fires receive adequate financial relief. The decision comes in the wake of a catastrophic wildfire season that has put pressure on both the state's economy and its residents.

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