What do the LA wildfires mean for home insurance?

Quick Summary:

How the ongoing destructive wildfires threaten to upend long-awaited reforms to California's homeowners insurance market.

As climate change fuels the conditions that can lead to more destructive events, insurers in disaster-prone US states like California, Louisiana and Florida have been reducing their offerings or leaving the states entirely.

Some 450,000 homes, or about 3 per cent of all state residents, were covered through the California state plan in September -  a 40 per cent increase from a year earlier, according to a Reuters data analysis.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Climate Wildfires Forests Climate risk Natural disasters Extreme weather Heatwaves Global warming Insurance Housing

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-16 @ 08:23:00 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 743 words

Reading Time: 5 minutes read

Sentences: 25 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 25194055

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About Eco-Business

Main Topics: EconomyBusiness

Official Website: eco-business.com

Update Frequency: 4 posts per day

Year Established: 2009

Headquarters: Singapore

News Last Updated: 17 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #100

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