Search results
Results From The WOW.Com Content Network
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 ...
At least six fires have burned near Pacific Palisades since 1980, including a 2018 blaze that was the third-most expensive in California history. ... Insurance companies dropped 1.72% of ...
"Premiums are increasing in fire-prone areas because insurance companies are dealing with more claims and bigger payouts," says Nick Ramirez, a California-based Goosehead insurance agent. "It’s ...
The five wildfires tearing through the County of Los Angeles hit many California homeowners who were already struggling to find a company willing to insure their properties. At least 10 major ...
Other insurers with over 5% market share in California in 2023 include Mercury Insurance (6.1%), Allstate (5.8%), Auto Club Insurance (5.8%) and USAA (5.4%). California Wildfires Could Cost ...
The value of properties insured by the FAIR Plan totaled more than $458 billion as of September, up from $153 billion in 2020, according to the insurer's website.
Insurance stocks like Allstate, Progressive and Chubb fell on Thursday as analysts expect wildfires in LA to pose over a $20 billion hit to the industry.
Following the fires this week, California Insurance Commissioner Ricardo Lara invoked moratorium powers to suspend all policy non-renewals and cancellations from insurance companies for one year.