Newsom withdraws most wildfire liability limits

California Governor Gavin Newsom withdrew his proposed legislation that would have increased utility companies' liability for wildfires, which critics labeled as a potential corporate bailout. The revised bill, published recently, focuses on measures to reduce future wildfire costs, such as limiting insurance-related fees and preventing hedge funds from profiting off wildfire claims. The legislation also aims to improve payment speed to wildfire victims and address utility accountability, following pressure from wildfire survivors and lawmakers.

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