Browsing: California wildfires

A group of property owners affected by January wildfires is suing major California insurance carriers, including State Farm, alleging antitrust and unfair competition violations.

State Farm seeks significant insurance rate increase in California after paying out billions in wildfire claims, sparking controversy about insurance affordability and company motives

Insurance company Chubb saw a decline in net income for Q1 2025 due to significant catastrophe losses, primarily from California wildfires.

Two lawsuits filed in Los Angeles allege major home insurance companies have colluded to limit coverage in California communities at high risk for wildfires, forcing homeowners onto the state’s last-resort insurance plan.

Two lawsuits filed in state court accuse over 300 insurers of conspiring to eliminate competition in the California insurance marketplace, forcing property owners to obtain fire insurance from the state’s insurer of last resort.

A consumer group has filed a lawsuit against California Insurance Commissioner Ricardo Lara to prevent insurers from passing on $500 million in FAIR Plan losses from Los Angeles wildfires to policyholders.

Colorado insurance premiums have already accounted for fire risk. Experts say the recent wildfires in California are unlikely to cause immediate premium increases for Colorado homeowners.

Heritage Insurance estimates significant losses due to California wildfires and Hurricane Milton, impacting its fourth-quarter earnings.

Many California insurance companies commit to expedited payments for wildfire victims, but major insurers like State Farm decline, creating concerns.

As wildfires continue to devastate California, homeowners face an increasingly precarious insurance landscape, with rising costs, policy cancellations, and reliance on last-resort options.