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Insurance is a capital-intensive business with thin profit margins, and many insurers have been hemorrhaging money in California in recent years as wildfires intensify. 2018’s Camp Fire in ...
In the months before thousands of Los Angeles homes went up in flames, property insurance companies dropped coverage in many neighborhoods of the city, citing the growing wildfire risks caused by ...
California has introduced a new rule that prevents insurance companies from dropping a policy until 2026 in the wake of wildfires that have destroyed 12,000 structures (AP)
Roughly one-fifth of the homeowners’ insurance premiums the company collects in the US come from California, according to Moody’s. Meanwhile, Allstate fell 5.6%, Travelers sank 4.3%, and Chubb ...
The wind-driven wildfires burning out of control in the Los Angeles area couldn't have emerged at a more perilous moment for California's homeowners, as officials try to rehab what they concede is ...
Under Lara’s new policy, insurance companies can’t enact non-renewals or cancelations for residents of the areas scorched by the Palisades and Eaton fires until January 7, 2026.
A recent rule change could cause insurance premiums to spike for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in ...
“Insurance companies have seen a significant number of these events over the last five or 10 years,” Firas Saleh, director of wildfire models for North America at Moody’s, told ABC News. The ...