Nickolas A. Alvarado, FCAS, CSPA, MAAA is a consulting actuary with Milliman's Orange County office. Nick's expertise includes insurance product development, advanced ratemaking, predictive modeling, the US regulatory environment, and insurtech. Nick regularly speaks and participates at industry events and publishes on a variety of topics.
Wildfire presents a significant challenge to California's property insurance market, and the impact is becoming more frequent and costly over time. Recently, we examined the current state of the California (CA) homeowners insurance market by exploring key components of the ecosystem, including the role of regulators, the CA FAIR Plan, and the involvement of the surplus lines markets, as well as current developments and potential implications of the fires in Los Angeles.