California

Before the wildfires, California decided to pass on reinsurance costs to policyholders. After the fires, California is considering catastrophe bonds to help shore up the state's insurer of last resort. A consumer advocate says these measures concentrate too much risk locally and do not improve home insurance availability.

Regulator says it will rule urgently; Consumer Watchdog says insurer must disclose more information to justify an increase.

(Bloomberg) --State Farm, the largest home insurer in California, is asking for an emergency rate hike from state regulators as it warns that multibillion-dollar payouts from the Los Angeles wildfires threaten its balance sheet and the broader insurance market.

Terms of home insurance policies and rising construction costs will affect how those who lost their homes in the Los Angeles wildfires can rebuild.

Tech companies Wuuii and ZestyAI enhance underwriting with risk evaluation capabilities.

The legislation would permit a state government conduit issuer to sell bonds to bolster the last-resort FAIR Plan in the wake of Los Angeles-area wildfires.

A round up of announcements and actions by the state's insurance regulator, a consumer advocate and an industry trade association.

After the California wildfires, other state governments are reacting to wildfire mitigation and related insurance coverage issues, proposing bills or announcing plans for action.

The state's insurance crisis, worsened by the L.A. wildfires, has people talking about measures including mitigating risk, price signaling and even moving residents out of risky areas.

The California State Assembly has introduced a bill to issue catastrophe bonds to shore up the state's last-resort property insurance, the FAIR Plan. Bonds would remove the burden of L.A. wildfire fallout from taxpayers, insureds and insurers. But analysts say a nationalized risk pool might be necessary.

It's not an unthinkable notion. There have been a handful of attempts at systematically moving populations away from regions severely affected by climate change.

The Los Angeles wildfires are an unmissable signal for investors to back startups aimed at mitigating and preventing similar disasters in the future, according to venture capitalist Bill Clerico.

Mark Debus, clinical manager of behavioral health at Sedgwick explains some of the reactions people are likely to experience as they process the impact of the LA wildfires.

Mark Debus, clinical manager of behavioral health at Sedgwick shares how disasters like the California wildfires affect the mental health of first responders, residents and others involved in the massive loss.

Lithium batteries from Tesla Inc., along with those from other carmakers, have added to the mix of toxic materials requiring specialized removal in the wake of the fires, delaying the fire victims' return to their properties.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

A round up of announcements and actions by California Insurance Commissioner Ricardo Lara and the state's Department of Insurance to assist residents with claims and insurance-related issues.

Los Angeles is bracing for critical wildfire conditions again as dry winds scour Southern California.

When residents can finally return to see what's left of their homes, filing a claim and understanding the process could be challenging for many.

The city of Los Angeles' electric and water utility was hit with a lawsuit faulting it for not supplying enough water to fight the biggest fire still raging in the second-largest U.S. metropolis.