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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 ...
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.
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 ...
Deadly LA fires devastate Southern California as hurricane-force winds fuel flames, 300K residents flee ... Insurance companies dropped 1.72% of Californian homeowners’ policies in 2023 ...
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 ...
The December rule change, announced just days before the fires in Southern California started, allows insurers to include the cost of reinsurance policies – insurance companies’ own insurance ...
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
State Farm had the largest California market share in 2023 with 19.9%, followed by Farmers Insurance with 14.9%, as well as CSAA Insurance Exchange and Liberty Mutual with 6.5% each.