After a year marked by insurance companies pulling out of California , state officials say five major insurers are committing to the state.

The California Department of Insurance confirmed to CBS Sacramento that Mercury Insurance, CSAA, USAA, Pacific Specialty, and California Casualty all announced plans to "stay and grow in the state." Together, they represent three of California's top seven largest homeowners' insurance providers.

In recent years, insurers cited wildfire risks, rising costs, and state regulations as reasons for limiting or stopping coverage in California.

In conversation with Bill Clinton at a livestreamed Clinton Global Initiative event on Wednesday, Gov. Gavin Newsom announced that state reforms, like addressing reinsurance, enticed the companies to come back

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