Story perspectives

QBE Exits California Home Insurance Market Amid Wildfire Risks

9/13/2025

Summary

Story summary

QBE Insurance Corp. will leave the US home insurance market, impacting about 38,000 policyholders in California.
The company stopped issuing new homeowners' policies last month to concentrate on core business areas.
Customers might keep coverage if Builders Reciprocal Insurance Exchange receives approval to operate in California.
QBE's exit highlights a trend of insurers withdrawing from California due to wildfire risks and inflation.
State Farm defends its rate increases, citing underwriting losses from severe weather and a high loss ratio.

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Story summary

QBE Insurance Corp. will leave the US home insurance market, impacting about 38,000 policyholders in California.
The company stopped issuing new homeowners' policies last month to concentrate on core business areas.
Customers might keep coverage if Builders Reciprocal Insurance Exchange receives approval to operate in California.
QBE's exit highlights a trend of insurers withdrawing from California due to wildfire risks and inflation.
State Farm defends its rate increases, citing underwriting losses from severe weather and a high loss ratio.