Los Angeles Fires Could Push California's Insurance System to the Brink
Briefly

from subscriber.politicopro.com1 month ago
The fires, especially in areas like the Pacific Palisades where homes are worth millions, could trigger a serious crisis in California's insurance market.
subscriber.politicopro.comhttps://subscriber.politicopro.com/article/eenews/2025/01/09/this-could-be-the-beginning-of-the-end-for-fire-insurance-in-california-ee-00197248
Rep. Brad Sherman noted the catastrophic wildfires have led to insurance companies raising rates significantly, affecting even those not near brush areas.
subscriber.politicopro.comhttps://subscriber.politicopro.com/article/eenews/2025/01/09/this-could-be-the-beginning-of-the-end-for-fire-insurance-in-california-ee-00197248
The FAIR Plan, California's insurer of last resort, reassured that it aims to pay claims despite concerns about its capacity amidst catastrophic fires.
subscriber.politicopro.comhttps://subscriber.politicopro.com/article/eenews/2025/01/09/this-could-be-the-beginning-of-the-end-for-fire-insurance-in-california-ee-00197248
The current wildfires may contribute to an unprecedented financial crisis in California's insurance sector, as insurers withdraw and trends point toward instability.
subscriber.politicopro.comhttps://subscriber.politicopro.com/article/eenews/2025/01/09/this-could-be-the-beginning-of-the-end-for-fire-insurance-in-california-ee-00197248
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#california-wildfires #insurance-market #catastrophe-risk #palisades-fire #financial-crisis
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