Insurance payouts can accrue significant interest while the money sits in escrow during rebuilding, say proponents of a bill that Gov. Newsom says would ensure that homeowners benefit.

California Gov. Gavin Newsom (D) threw his support Monday behind legislation aimed at guaranteeing that wildfire-impacted homeowners, rather than their lenders, would receive interest earned from

Gov. Newsom sponsors a bill to ensure homeowners, not banks, earn interest on insurance payouts post-disasters.

A proposed assembly bill seeks to give interest earned on insurance payouts to homeowners, Gov. Gavin Newsom announced Monday. Assembly Bill 493 seeks to change the current law that allows […]