California lawmakers strike wildfire deal that leaves out most of Newsom’s big demands

California lawmakers and Governor Gavin Newsom have struck a scaled-back wildfire deal, according to CalMatters, after Newsom backed off a plan to ease costs for utilities whose equipment sparks fires. The agreement, Senate Bill 492, bars private equity from investing in wildfire claims and blocks bonuses for utility executives in years their companies cause fatal fires, while creating a fast-pay program with sixty-day deadlines for survivors seeking property and pain-and-suffering claims. CalMatters reports the deal preserves survivors' right to sue and keeps intact the insurance industry's ability to recoup costs from utilities, a provision Newsom had wanted eliminated. Lawmakers say the fight over who ultimately bears the cost of California's wildfire liabilities, including the state's eighteen billion dollar wildfire fund, will likely resume next year under a new governor.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton