California wildfires will cost insurers billions
The economic toll from the California wildfires is just starting to become clear. Allstate is the latest insurer out with numbers. The insurance company says it will pay out $1.1 billion in insured claims.
California's largest home insurer wants to hike rates by 22% for homeowners to help pay for LA's wildfires
State Farm has asked the state's insurance commissioner for approval to increase premiums on homeowners, citing financial challenges.
How will the California wildfires shape the home insurance industry?
In recent years, insurers like Allstate, American National, The Hartford and State Farm have stopped renewing policies or issuing new policies for California homeowners.
Wildfire victims file more than 4,400 claims with California’s FAIR Plan, home insurer of last resort
That’s enough to kick the plan’s strained finances further into crisis mode, increasing the chances that homeowners statewide will see insurance costs rise.
California's 'Regulatory Failure' Blamed for Wildfire Insurance Disaster
The California insurance crisis laid bare by the Los Angeles fires was fueled by "regulatory failure," economist Nancy Wallace told Newsweek.
After California wildfires, neighbors face unequal recovery due to insurance crisis
Before a wildfire ravaged their Altadena, California street, Louise Hamlin and Chris Wilson were neighbors in nearly identical houses.
California Wildfires: Rebuilding Amidst Insurance Woes
As California grapples with the aftermath of devastating wildfires, residents like Chris Wilson face the daunting task of rebuilding their lives with insufficient insurance coverage. After being dropped by his private insurer,
Allstate expects $1.1 billion in losses from Los Angeles fires
Allstate Corp. said it expects about $1.1 billion in losses from the wildfires that destroyed Los Angeles County communities ...
Allstate expects $1.1 billion loss from California fires
Allstate insurance said it expects a $1.1 billion loss from claims caused by the wildfires that swept through Southern California in January ...
Crain's Chicago Business10h
Allstate expects a $1.1 billion hit from the LA wildfires, but it could have been worse
Allstate Corp. said it expects about $1.1 billion of losses from the wildfires that ravaged swaths of Los Angeles last month.
Artemis17h
Allstate expects $1.1bn, pre-tax, net of reinsurance loss from CA wildfires
US insurer Allstate expects its losses from the recent Los Angeles, California wildfires will be around $1.1 billion, pre-tax ...
reinsurancene12h
Allstate expects $900m in reinsurance recoveries from LA wildfires
U.S. primary insurer Allstate has estimated that its gross losses from the Los Angeles, California wildfires will be $2 ...
Insurance Insider1d
Allstate expecting a $1.1bn pre-tax loss from California wildfires
Allstate is anticipating its losses from the recent California wildfires to be about $1.1bn, pre-tax, net of reinsurance, the ...
Los Angeles fires highlight risk of 'uninsurable future,' experts say
Jewlz and Terry Fahn make up one of thousands of Los Angeles households seeking to recover their losses after the devastation ...