In 2019, the number of homeowners’ policies in California that were not renewed jumped by more than thirty per cent. In 2023, two giant insurers, State Farm and Allstate, announced that they would stop writing new policies for various forms of property insurance in California.

California’s insurance authority rushed to impose a yearlong ban on policy cancellations in parts of Los Angeles hardest hit by the apocalyptic wildfires that continued to sow destruction as of

Insurance companies and rates haven’t kept up with increasingly catastrophic events like the California wildfires or hurricanes that recently hit Florida, Tennessee and North Carolina. It can put

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 moratorium powers to prevent insurance companies from canceling or non-renewing policies in wildfire-impacted areas,

California banned insurers from canceling or not renewing residential property policies in the Los Angeles neighborhoods that were affected by the blazes that destroyed swaths of the city this week.

State authorities previously listed the Palisades as one of the five Southern California areas with the highest concentration of potential wildfire risks. The community also is among the areas most impacted by an unavailability of insurance coverage.

Damages from the recent fires in the Los Angeles area could overwhelm California’s already stressed insurer of last resort

Several California insurers have cut policies in wildfire-prone areas of the state in recent years, leaving homeowners scrambling for options.