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California Insurance Crisis: 25% Policies Non-Renewed Amid Wildfires

1/30/2025

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Summary

Story summary

California is grappling with a dire insurance crisis as climate change fuels soaring non-renewal rates. In 2023, areas like Rio Nido experienced a staggering 25% of policies not renewed. The FAIR Plan, the state’s last-resort insurer, has seen enrollment double, highlighting the urgent need for high-risk coverage amidst escalating wildfires and insurance expenses.

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Story summary

California is grappling with a dire insurance crisis as climate change fuels soaring non-renewal rates. In 2023, areas like Rio Nido experienced a staggering 25% of policies not renewed. The FAIR Plan, the state’s last-resort insurer, has seen enrollment double, highlighting the urgent need for high-risk coverage amidst escalating wildfires and insurance expenses.