Failure of Wildfire Liability Reform: The California State Legislature closed its session without passing key protections for investor-owned utilities. Lawmakers amended Senate Bill 492 and blocked proposals (such as those championed by Governor Newsom) that would have restricted insurers from suing utilities for wildfire-related losses or capped utility liabilities.
@Keineui This concerns forest fires caused by power lines. For a long time, these were covered by insurance due to pressure from the government. Now, insurance companies can sue to recover the costs.
@Keineui So, which language would you like it in now? 😅 There are even more factors at play here—looming liabilities in the billions, downgrades by analysts, and so on.
