Homeowners insurance

Verisk and Moody's are the first two modeling companies to submit their models to the California Department of Insurance. A Verisk executive explained the functioning of their model and what insurers' options are.

A trio of blazes in SoCal have destroyed over 2,000 homes and structures in neighborhoods with average property values well above the national average.

The wildfires add pressure to California's home insurance market, which has faced a growing crisis in recent years.

The most destructive wind storm to strike the Los Angeles area in 14 years is fanning wildfires.

Fifteen percent of residences had three or more structures, which can go undetected by insurers even when they identify a secondary structure.

While insurers can't rebuild the grid, they are uniquely positioned to play an important role in mitigating these risks.

Data from the Environment Agency on Tuesday showed 6.3 million homes and businesses are in danger of damage from overflowing rivers, sea or drains.

California adopted a rule that aims to bolster access to home insurance in the state, after several major carriers retreated from the market amid growing risk of wildfires.

In California, wildfire readiness is quickly becoming a financial necessity.

Aviva Plc and Allianz SE are among potential bidders for Britain's home and motor insurance firm Esure Group Plc, according to people familiar with the matter.