Los Angeles fire losses could reach $30 billion for insurers
Multiple fires raging across the Los Angeles area will cost insurers as much as $30 billion, Wells Fargo and Goldman Sachs estimated in a report released this week. After accounting for non-insured damages, the total costs will balloon to $40 billion, the report said.
Thousands of Los Angeles homeowners were dropped by their insurers before the Palisades Fire
About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.
California’s Insurance System Faces Crucial Test as 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.
California wildfires: Insured losses could top $30B, Wells Fargo analysis finds
Financial analysts at Wells Fargo Securities estimated that insured losses from the Southern California wildfires could exceed $30 billion based on their latest analysis.
Californians could face insurance surcharges if Los Angeles fire claims deplete FAIR plan
Changes to the way the insurance industry is regulated in California may mean all of the state's residents will be paying for at least a part of the cost of rebuilding from the destructive wildfires in Los Angeles County.
Factbox-Insurance industry stares at potential record-breaking losses from Los Angeles wildfires
Analysts are evaluating the financial impact of the wildfires that have charred hillsides, homes and streets in Los Angeles County, with initial estimates from AccuWeather suggesting total economic losses could reach as high as $150 billion.
Fires in California could impact insurance rates in Massachusetts
Gavin Newsom has taken to X to share what he believes is a gotcha clip of Elon Musk being “exposed” for lying about the California wildfires. The MAGA billionaire, along with Donald Trump, has been a vocal critic of the governor’s response to the crisis.
Insurance attorney, Woolsey Fire victims offer advice on how to file insurance claims
To help fire victims walk through a process that may seem overwhelming, an insurance attorney and Woolsey Fire victims ...
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Family who lost home faces uncertainty after losing insurance coverage before fire
An Altadena family whose home was destroyed in the Eaton Fire faces uncertainty after learning they would not be covered by ...
Tyler Perry Slams Insurance Companies As He Plans To Aid Los Angeles Fire Victims
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies canceling or non-renewing ...
‘Completely Overwhelming’: L.A. Fire Victims Describe Their Devastating Losses
You just spend your whole life accumulating certain things that mean something to you, and in 12 hours, it's all gone." ...
California Bans Insurance Policy Cancellations in L.A. Until 2026 as Wildfire Disaster Costs Pile Up
Insurance Commissioner Ricardo Lara on Thursday issued a mandatory moratorium that prohibits insurance companies from pulling ...
Insurance commissioner issues moratorium on home policy cancellations in fire zones
Insurance Commissioner Ricardo Lara has issued a one-year moratorium on home policy non-renewals and cancellations in the ...
Pacific Palisades fire may spell an end to cheap homeowners insurance in California
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions ...
Dealing With the Damage: Filing an Insurance Claim After a Fire, Step by Step
The post Dealing With the Damage: Filing an Insurance Claim After a Fire, Step by Step appeared first on Real Estate News & ...
Which insurance companies have the most exposure in California?
Insurance companies are expected to face significant losses due to the wildfires in Southern California, though a report by ...