California

The changing climate is increasing insurance rates for residents and cities and lowering property values in areas that face more frequent and intense disasters.

Representatives of the insurance industry called the proposal too speculative and prescriptive, while consumer and environmental advocates say it doesn't go far enough.

Municipal bond insurance volume grew 17.7% year-over-year in the first three quarters of 2025, according to LSEG, outpacing the municipal market as a whole.

Edison International Chief Executive Officer Pedro Pizarro said it is likely that the company's utility equipment could be found to be associated with the start of the deadly Eaton Fire.

Several insurance and wildfire-related bills were signed into law October 10, including authorization for bonds to finance California's insurer of last resort.

Hedge funds speculating on wildfire insurance claims in California were just dealt a legal blow.

California governor's executive order tasks insurance regulator and other state agencies to make recommendations on mitigating wildfires, insurance affordability and availability, expediting insurance claims and more.

California insurance commissioner Ricardo Lara proposes stricter standards for Consumer Watchdog's compensation in representing home insurance policyholders against insurers' rate increase proposals.

AB 226, still subject to governor's approval, allows likely $1 billion of borrowing to cope with strains on the state's insurer of last resort.

New law, SB 429, California Wildfire Public Catastrophe Model Act, depends on the state's university system and its resources to check insurers' and regulators' risk modeling.

The home insurer's objections to an in-person public hearing with regulators are dismissed by a California administrative judge, along with efforts to separate and postpone wildfire claim handling complaints from the rate hearings.

California Sen. Dave Cortese proposed the bill as the state grapples with a shortage of affordable housing.

California's insurer of last resort faces regulatory orders and court fights over its funding and claims handling. The following articles track developments concerning the FAIR Plan in recent months.

Insurance industry advisors and groups say the INSURE Act proposal for a catastrophic reinsurance program won't solve rising prices and coverage crisis.

California's insurance regulator and a consumer advocacy group continue battles over the funding of the state's home insurer of last resort, and other issues.

Damage claims from the Eaton wildfire could wipe out the $21 billion fund created to protect utilities and their customers when an investor-owned utility's equipment is deemed responsible.

The state's insurer of last resort has taken on more policyholders that private insurers deem too risky. The strain on the plan, worsened by the January wildfires, led the state's regulator to allow an assessment on policyholders to cover the higher risks.

An academic paper presented at the Brookings Institute's annual conference found that future wildfire risks are already having economically significant impacts on financial markets, municipal borrowing costs and vulnerable communities.

Figures released by the state's insurer of last resort show double digit percentage increases over last fiscal year, and triple digit percentage increases since four years ago.

The state forecasts eroding coastlines will endanger $18 billion of existing homes and commercial buildings in the coming decades.