California's insurance crisis intensifies due to wildfire risks and climate change, causing premium increases and decreased coverage options.
California's insurance crisis, driven by wildfire risks and climate change, intensifies as homeowners and small businesses face soaring premiums and decreased coverage options. Insurance companies such as Allstate and State Farm are increasing premiums by an average of 34% and 30% respectively, leading more people to seek government-provided insurance. The long-term outlook remains uncertain as the industry adapts to climate risks and regulatory landscapes.
July 23, 2024
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