California’s Insurance System Faces Crucial Test as Wildfire Losses Mount
The California FAIR Plan, the state’s insurer of last resort, had just $377 million available last week to pay claims that could reach billions, officials said.
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Pete Hegseth's Pentagon future faces crucial test in Senate committee hearing
Pete Hegseth must be approved by the GOP-led Senate Armed Services Committee before he can go before the full Senate for confirmation.CBS News - 1d -
Insurance stocks sell off sharply as potential losses tied to LA wildfires increase
Allstate, Chubb and Travelers are the most exposed carriers to insured losses in the wildfires, according to JPMorgan.CNBC - 4d -
California homeowners battle an 'insurance crisis' as wildfires burn out of control
The wind-driven wildfires burning out of control in the Los Angeles area couldn't have emerged at a more perilous moment for California's homeowners, as officials try to rehab what they concede is ...NBC News - 4d -
California official bans insurance cancellations, nonrenewals in wildfire-affected areas
California's insurance commissioner issued a one-year moratorium on policy nonrenewals and cancellations in areas affected by devastating wildfires in and around Los Angeles. “I am using my ...The Hill - 4d -
California Wildfires Lay Bare an Insurance Crisis
Even before the latest blazes, California officials warned that an emergency state insurance fund was in trouble, while private insurers dropped coverage.The New York Times - 4d -
The Los Angeles Fires Will Put California’s New Insurance Rules to the Test
The state’s insurance industry was reformed in late 2024 to promote coverage in disaster-prone areas. Tens of billions in fire damage will stress-test the new regime.Wired - 5d -
Insurers brace for losses of up to $20bn from California wildfires
JPMorgan analysts double estimates as blazes continue to rageFinancial Times - 5d -
California wildfire victims face uncertain future: "It looks like a war zone"
While many who evacuated from the fires in California don't know if their homes survived, others found a way back — only to see that there was nothing left. For those who found their house was ...CBS News - 5d -
Economic loss from California wildfires could reach $52B-57B: Report
Total damage from the devastating wildfires scorching Southern California could amount to between $52 billion and $57 billion in economic losses, according to a new analysis. The estimate, issued ...The Hill - 6d
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