Insurance rate-hike initiative gains high-profile backers

The proposed California ballot measure to tighten regulation of health insurance rates receives funding from hedge-fund manager Thomas Steyer and Roll International Chairman Stewart Resnick.

Several high-profile business names, such as San Francisco hedge-fund manager Thomas Steyer and agribusiness magnate Stewart Resnick, have contributed to a proposed ballot measure seeking tighter regulation of health insurance rates, according to campaign finance records.

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