Homeowners' insurance
-
Total economic and insured losses are “virtually certain” to reach into the billions. -
Six fires now cover more than 27,000 acres across Southern California.
-
The fast-moving blazes have prompted evacuations across the city.
-
CA insurers can now use forward-looking cat models in ratemaking.
-
A separate Senate report found climate change is also increasing non-renewals.
-
Homeowners’ insurance rates have spiked almost 60% since 2018.
-
The Federal Insurance Office has data collected from over 300 insurers.
-
The regulations are part of a state effort to expand wildfire coverage.
-
Malibu, which has 10,000 residents, posted on social media on Wednesday that the fire was 7% contained.
-
The fire started Monday night, with high winds predicted for Tuesday morning.
-
The insurer will conduct an audit to ensure “transparency and accountability.”
-
TDI is urging legislators to incentivize more resilient housing construction.
Related
-
Mangrove assumes around 20,000 Citizens policies
June 26, 2025 -
Fox/Stanard-backed embedded auto MGA eyes expansion
June 23, 2025 -
Citizens secures $4.49bn in reinsurance coverage
June 23, 2025