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The wildfires that destroyed homes in multiple sections of the Los Angeles area will test California’s efforts to stabilize the state’s insurance marketplace after many insurers stopped ...
(9:06 a.m. ET) Insurance Agencies Cut Fire Coverage Months Before Los Angeles Wildfires Major insurance companies have decreased property coverage in California since 2022.
Insurance stocks tumbled Thursday as wildfires in Los Angeles pose record-high losses. Allstate plunged as much as 4%, while Chubb and Travelers fell roughly 3% at lows. Progressive and American ...
The recent Los Angeles fires are expected to add another $250 billion to $275 billion in economic losses, the Los Angeles Times reported. ... When insurance companies bleed money in California ...
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 ...
Fire crews battle the Kenneth Fire in the West Hills area of Los Angeles. In California, a new rule says eligible home insurance policy owners cannot be dropped or issued a non-renewal until ...
Even amid the growing climate risk in states like California, the property and casualty insurance industry earned record profits in 2023 totaling $88 billion, according to the National Association ...
Like everyone here in Southern California, I’m watching in horror as out-of-control fires consume entire communities and force hundreds of thousands around Los Angeles to flee.