California insurer canceled policies months before Los Angeles wildfires
- The Pacific Palisades fire in Los Angeles has become the biggest wildfire, burning nearly 27 square miles and destroying over 1,000 buildings, with at least five fatalities reported.
- State Farm canceled hundreds of homeowners' policies in Pacific Palisades to avoid 'financial failure' due to increasing wildfire risks, affecting about 1,600 insured homes.
- The California Fair Plan has seen a 200% increase in policies from 2020 to 2024, reaching 452,000 policies as traditional insurers withdraw from high-risk areas.
- California's Insurance Commissioner criticized the lack of timely new policies, stating that Californians deserve a reliable insurance market that does not retreat from vulnerable communities.
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Total News Sources0
Leaning Left15Leaning Right18Center7Last UpdatedBias Distribution45% Right
Bias Distribution
- 45% of the sources lean Right
45% Right
L 38%
C 17%
R 45%
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