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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 ...
According to LendingTree, more than 10% of all California homeowners lack homeowners insurance. “The high wildfire risk in California has led to insurance companies withdrawing from underwriting ...
California wildfires are now a near-annual crisis. In 2024 alone, over 1 million acres burned across the state, fueled by more than 8,000 wildfires. ... When insurance companies bleed money in ...
Before the LA wildfires hit, private insurance companies had already been curbing their exposure in California as natural disasters have been piling up in the state.
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 ...
JPMorgan's insurance analysts released a report on Thursday that looked at the exposure of homeowner's and commercial property insurance lines in light of the wildfires that have devastated ...
Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
The state of California announced a one-year moratorium on the cancellation or non-renewal of homeowners insurance policies in zip codes affected by the Los Angeles-area wildfires.