Insurers exiting California amid escalating wildfire risks - PRESS AI WORLD
PRESSAI
All categories
Recent Posts
side-post-image
Jamie Dimon and Elon Musk "Hug it Out" After Lawsuit Settlement
user-iconAtlas Winston
side-post-image
Ancient Marble Statue Discovered Abandoned in Garbage Bag Near Thessaloniki
user-iconGloria Terra
Contact Phone:
Economy

Insurers exiting California amid escalating wildfire risks

share-iconFriday, January 10 comment-icon1 week ago 10 views
News sources:
salonSALON
Insurers exiting California amid escalating wildfire risks

Credited from: SALON

  • Recent wildfires in California have led insurers such as State Farm and Allstate to cease new policies due to increased risks and potential losses.
  • The Hartford and Liberty Mutual are also reducing coverage options, with plans to exit specific markets by 2026.
  • Preliminary damage estimates from recent Los Angeles wildfires range from $52 billion to $57 billion, escalating the crisis.
  • State Farm has not issued new homeowner policies since May 2023, impacting wealthy neighborhoods particularly hard.
  • A new regulation will soon require home insurers to provide coverage in high-risk fire areas, announced just before the latest wildfires.

For the full article, visit Salon.

SHARE THIS ARTICLE:

TAGS:

California Wildfires Insurance companies Natural disasters State farm Allstate
author-dp

Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

nav-post-picture
date-iconJanuary 10, 2025 Jimmy Carter's Funeral: A Tribute to His Legacy and a Reflection on Politics
date-iconJanuary 10, 2025 Israel seeks global aid for release of researcher kidnapped in Iraq
nav-post-picture
Related Posts
main-post-image
POLITICS
Huntington Beach Declares Itself a "Non-Sanctuary City" in Support of Trump’s Immigration Policies
date-iconJan 22, 2025
main-post-image
POLITICS
Fear and Uncertainty Overwhelm California's Immigrant Community Amid Trump's Crackdown
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Southern California Faces Strong Winds and Fire Risks as Rain Approaches, Raising Concerns over Toxic Runoff
date-iconJan 22, 2025
main-post-image
WORLD NEWS
FireAid 2025: Star-Studded Concert for LA Wildfire Relief Featuring Billie Eilish, Katy Perry, and More
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Ferocious Winds Spark New Wildfire Threats in Southern California
date-iconJan 22, 2025
main-post-image
ECONOMY
TSMC Reports Record Quarterly Profit Driven by AI Chip Demand Amidst Regulatory Challenges
date-iconJan 16, 2025

Stay Connected

main-post-image
Politics
Prince Harry and Will Lewis: Behind the Settlement and Calls for Criminal Investigation
date-icon January 22, 2025
main-post-image
World News
Emerging Peace in Gaza: Insights from "Face the Nation" on Ceasefire Developments and Airlift of Hostages
date-icon January 20, 2025
main-post-image
World News
Daredevil Passenger Survives 30km Ride on Outside of High-Speed German Train
date-icon January 17, 2025
main-post-image
Politics
Bail Denied for Suspect in 2013 Pennsylvania Campus Sexual Assault After Extradition from France
date-icon January 17, 2025

Tags

Stay informed effortlessly with PRESS AI WORLD, the AI-powered news summarizer that delivers concise, easy-to-read global headlines tailored to your interests.

Categories

Recent Posts

side-post-image
Jamie Dimon and Elon Musk "Hug it Out" After Lawsuit Settlement
user-iconAtlas Winston
side-post-image
Ancient Marble Statue Discovered Abandoned in Garbage Bag Near Thessaloniki
user-iconGloria Terra
© 2025 All rights reserved | PRESS AI WORLD