Can a Bernie-Backed Populist Fix California’s Home Insurance Crisis?

Can a Bernie-Backed Populist Fix California’s Home Insurance Crisis?

In the spring of 2023, insurance giants State Farm and Allstate announced they would no longer write new home insurance policies in California, citing intolerable exposure to the devastating wildfires that have become routine in the state. Farmers, USAA, and several smaller insurers quickly followed suit, either restricting coverage in high-risk areas, pausing new policies, or pulling out of the state entirely. And who could blame them? As newsp…

Washington Monthly – Can a Bernie-Backed Populist Fix California’s Home Insurance Crisis? – Consumer Watchdog

As insurers flee wildfire risk, the leading candidate for insurance commissioner campaigns on “Natural Disaster Insurance for All,” but even fellow progressives are skeptical.  By Kainoa...