Wildfires Cost Insurers

The end of insurance: Climate change is destroying homeowners and insurers

Traditional insurance models aren’t able to handle escalating natural disaster risks.

MarketWatch - 22h

Wealth divide will steepen as climate change spikes insurance costs, report finds

Climbing temperatures are sharpening economic divides in American communities, a new report has found. Rising insurance rates are increasingly making broad swaths of the country's biggest cities ...

The Hill - 2d

Europe ‘can’t cope’ with extreme weather costs, warns insurance watchdog

EU regulator Hielkema says governments and banks will struggle to pay for natural disasters

Financial Times - 2d

Insurer Chubb puts a price tag on its share of L.A. wildfire woes

Insurer Chubb Ltd. has estimated its costs related to the Los Angeles fires to be around $1.5 billion before taxes.

MarketWatch - Jan. 29

Why the home insurance model is broken

Wildfires ripped through Southern California this month leaving more than 16,000 structures destroyed and insurers facing $40 billion in payouts.

CNBC - Jan. 27

Climate catastrophes call for state intervention on insurance

More public-private partnerships are the only viable model for a decent society

Financial Times - Jan. 27

UK insurers set for record £70bn of pension transactions

Pension consultants WTW says improved funding positions have made bulk annuity deals more attractive

Financial Times - Jan. 27

As wildfire damage climbs to $40 billion, homeowners face higher insurance costs

S&P Global expects home insurance rates to be ‘heavily impacted’ by LA wildfires

MarketWatch - Jan. 24

‘Cancel culture’ insurance offers respite to panicking celebrities

Policy includes 24/7 hotline and 60-day plan to manage negative media coverage

Financial Times - Jan. 24

Beijing tells insurers to buy more Chinese stocks

Equities rally as authorities set explicit investment targets for mutual funds and state-owned insurance companies

Financial Times - Jan. 23

Will Zalatoris a late withdrawal from Farmers Insurance Open

The field for the Farmers Insurance Open took another hit Wednesday when Will Zalatoris withdrew.

Yahoo Sports - Jan. 22

What's covered under home insurance and what's not

Home insurance can help protect your home from disaster damage, but policy details may vary.

CBS News - Jan. 22

Flow Specialty launches the 1st AI insurance broker

Flow Specialty, a specialty commercial brokerage, is announcing the industry’s first AI insurance broker. The brokerage’s platformless AI model has passed RPLU certification exams for the Cyber, ...

VentureBeat - Jan. 22

How to insure physical gold

Insuring your gold can help protect this critical investment. Here's how to do it.

CBS News - Jan. 22

Here's how climate change is reshaping home insurance costs in California — and the rest of the U.S.

Even for homeowners outside of California, worsening extreme weather means higher insurance rates.

CNBC - Jan. 22

US homeowners in disaster-prone states face soaring insurance costs

Climate crisis is making it harder for insurance companies to operate, with many pausing or withdrawing policies. Homeowners in the United States are facing an enormous financial crunch due to the ...

The Guardian - Jan. 22

Insurers Were Right About California’s Wildfires

Regulators in California made it difficult for insurers to raise rates despite increasing risks. So the insurers stopped writing policies, which is logical. But they’ll get blamed and shamed anyway.

Inc. - Jan. 21

Comprehensive vs. collision auto insurance: What's the difference?

These coverages can protect your vehicle, but they're not always required — or necessary. Here's what to consider.

CBS News - Jan. 21

LA wildfires thrust insurance startup into spotlight as property owners scramble for protection

A month after announcing its first funding round and debut insurance product, Stand is seeing a huge surge in interest due to the LA wildfires.

CNBC - Jan. 19

The Cost of Surviving a Wildfire

Evacuating a disaster is often the lifesaving choice, but it comes with short-term costs to address immediate needs and incalculable personal and financial tolls in the future.

The New York Times - Jan. 17

Home insurance costs soaring as climate-related events surge, Treasury Department says

During the period, costs for policies across all categories rose 8.7% faster than the rate of inflation.

CNBC - Jan. 17

Extreme weather like California wildfires has increased homeowners’ insurance costs. Now we know how much extra they’re paying.

A new Treasury Department analysis looks at how climate-related disasters affected 246 million insurance policies.

MarketWatch - Jan. 17

‘A ton of unknowns’: months ago, LA residents lost wildfire insurance. Then the fires came

After insurers like State Farm dropped policies, to switch to the state’s Fair plan was prohibitively pricey for many. When James Borow realized last Tuesday that his Palisades house was on fire, ...

The Guardian - Jan. 16

Our Insurance System Subsidizes Moves to Disaster Zones

Our policies encourage Americans to flock to areas particularly prone to climate-related disasters.

The New York Times - Jan. 16

Wildfires in L.A.: Where Small-Business Owners Can Find Aid, Even If Insurers Are Squeezed

Despite insurers’ retrenchment in California, the onus is still on them to make their claimants whole, an insurance industry watchdog says.

Inc. - Jan. 15

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.

The New York Times - Jan. 14

Tyler Perry knocks insurance companies over policy cancellations ahead of wildfires

Tyler Perry is ripping the "pure greed" of insurance companies for canceling homeowners' policies ahead of the devastating wildfires in California. "Watching a daughter use a garden hose to try and ...

The Hill - Jan. 13

As L.A. Wildfire Damages Hit $20 Billion Estimate, Insurers Slump

The wildfire may be the costliest disaster in California history.

Inc. - Jan. 10

How much does it cost to insure 1-ounce gold bars in 2025?

Planning to add 1-ounce gold bars to your portfolio? here's what you could pay to insure them this year.

CBS News - Jan. 10

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 - Jan. 10

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 - Jan. 10

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 - Jan. 10

The Costs of the Los Angeles Fires

Damages are now estimated to reach up to $57 billion. The blazes add to a string of climate-related catastrophes hitting businesses and homeowners.

The New York Times - Jan. 10

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 - Jan. 10

L.A. wildfires to cost insurers more than $20 billion. Three companies are likely to foot most of the bill.

Allstate, Chubb and Travelers are likely to be the publicly traded insurance carriers most affected, as they are the most exposed to the California homeowners’ market.

MarketWatch - Jan. 10

WATCH: Insurance expert on how to prepare for insurance claims amid California fires

ABC News’ Linsey Davis speaks with insurance broker Karl Susman about the difficulty of insuring homes and making fire claims in California as residents begin to survey the damage left by the fire.

ABC News - Jan. 9