Insurance companies were worried about many of the homes in the Pacific Palisades neighborhood of Los Angeles long before this week’s devastating wildfire burned through the area, ravaging homes and forcing evacuations. The Palisades, because of its location next to the brush-heavy Santa Monica Mountains and the high value of its homes, was too vulnerable to fires to insure at permissible rates without the companies losing money.
Home Losses From The La Fires Hasten ‘an Uninsurable Future’
Alana Semuels, Time
Thu, 01/09/2025 - 1:20pm
Topics: santa monica mountains state farm july california fair access insurance requirements ca fair plan september the fair jim wood california assemblyman march ca fair plan president victoria roach conditions that led to unprecedented los angeles los angeles county accuweather york times jones climate risk initiative berkeley school law ldquo;in windstorm plans&mdash am best ldquo;the collier philadelphia florida tax&rdquo hurricane ian atlantic coast cape canaveral david marlett brantley risk insurance center appalachian state help victims wildfires pacific palisades los angeles palisades in california fair plan the california fair plan as read that fires one university california fair plans home losses states people resort billion pay can’t offer market policyholders we’re million high-risk ldquo;we exposure temple expensive responsible doesn’t work essentially turn won’t state’s coverage professor change government rates called policyholder markets system damages don’t number hundreds long director companies cover years private bad
BING NEWS:
- How will LA's devastating fire losses affect insurance and home costs?
The current fires are on track to become one of the most costly disasters in California history. That could threaten the stability of California's insurance market and make housing costs go up even ...
01/9/2025 - 9:00 am | View Link - Palisades and Eaton Fires in Los Angeles remain 0% contained. The blazes could become California's most costly ever.
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01/9/2025 - 8:15 am | View Link - How the devastating Los Angeles fires could deepen California’s home insurance crisis
The massive fires that have destroyed much of Pacific Palisades and demolished more than 2,000 homes in Los Angeles County threaten an effort to fix California's troubled home insurance market.
01/9/2025 - 8:00 am | View Link - Home Losses From the LA Fires Hasten 'An Uninsurable Future'
The Palisades, because of its location next to the brush-heavy Santa Monica Mountains and the high value of its homes, was too vulnerable to fires to insure at permissible rates without the companies ...
01/9/2025 - 7:49 am | View Link - California’s $20B wildfires dubbed 'most expensive fire in history' and could push U.S. to 'uninsurable' brink
Experts say the fires in Los Angeles could be the costliest in US history, with insurers potentially facing losses of over $20 billion as they braced for the worst ...
01/9/2025 - 6:15 am | View Link - More
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