California Eyes Risk Pool As It Struggles With Costly Fires

SACRAMENTO, Calif. (AP) — Officials were struggling Wednesday to find ways for homeowners to afford insurance in fire-prone areas of California and for utilities to survive liability from devastating wildfires that threaten to worsen with climate change.
One option on the table is the creation of a new state catastrophe fund backed by tens of billions of dollars.
Massively expensive wildfires in 2017 and 2018 partly prompted Pacific Gas & Electric Corp. to file for bankruptcy protectio