


California Wildfires Intensify Amid Insurance Crisis
Recent wildfires in California have devastated communities, exposing the growing insurance crisis as companies retreat from high-risk areas.
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Overview
As severe wildfires engulf Southern California, homeowners face an insurance crisis exacerbated by rising costs and insurer pullbacks. Companies like State Farm and Allstate have notably ceased writing new policies, leaving many without protection. In response, California has introduced new rules requiring insurers to cover fire-prone areas, but consumer advocates warn this may lead to significantly higher premiums. As wildfires destroy thousands of structures and generate losses estimated in the billions, homeowners grapple with the risks and challenges of securing adequate insurance coverage.
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