After helping drive major insurers to flee the state, red tape from California’s liberal insurance regulators is poised to hamper rebuilding Los Angeles-areas communities in the wake of devastating wildfires.
The Los Angeles wildfires had burned over 40,000 acres of land mass as of Monday, destroying over 10,000 structures and forcing more than 100,000 to flee their homes. When the fire is finally contained, many Californians will be unable to rebuild the homes they lost, as a flood of home insurers have exited the state in recent years due largely to extensive government regulation, leaving many Golden State residents stuck with government-backed insurance of last resort, or, worse, no insurance whatsoever. (RELATED: ‘Excuses Go Up In Flames’: California Dems Paved The Way For Los Angeles To Be Consumed By ‘The Big One’)
State Farm announced it would drop homeownership…
