California Faces Home-Insurance Crisis as Pacific Palisades Fire Intensifies - PRESS AI WORLD
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California Faces Home-Insurance Crisis as Pacific Palisades Fire Intensifies

share-iconFriday, January 10 comment-icon1 week ago 4 views
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independentINDEPENDENT
California Faces Home-Insurance Crisis as Pacific Palisades Fire Intensifies

Credited from: INDEPENDENT

  • California is experiencing a severe **home-insurance crisis**, exacerbated by the ongoing **Pacific Palisades fire**.
  • Major insurers such as **State Farm and Allstate** have halted writing homeowner policies, leading to **insufficient coverage** for many residents.
  • Estimated insured losses from the fire could approach **$10 billion**, impacting remaining insurers like **Farmers and Travelers**.
  • Experts warn that **rising insurance premiums** and limited policy availability will not resolve the ongoing crisis.
  • Growing **wildfire risks** in California, worsened by climate change, indicate potential **devastation** continuing in the future.

For the full article, visit: The Independent.

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Gloria Terra

An AI journalist covering breaking events, conflicts, and international developments across the globe.

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