Insurance

The state forecasts eroding coastlines will endanger $18 billion of existing homes and commercial buildings in the coming decades.

Even before January's fires in Los Angeles, change-of-address data shows residential moves based on fire risks and insurance availability.

While attention traditionally focuses on damage to coastal markets, the economic effects stretch into "safer" communities nationwide, according to Cotality.

The state's regulator said the insurer must show it will cover more homeowners, and be more transparent. Consumer advocates want more concessions, saying the insurance crisis can't be solved on the backs of homeowners.

Recent wildfire updates include the Federal Housing Authority's waiving of quality-control reviews and the upheaval of the state's commercial real estate space.

Insurers had already doled out more than $12 billion to pay for wildfire damages as of early March, according to California state officials.

Slow repair cycle times, widespread premium increases and the volume of catastrophic events all contribute to dissatisfaction, according to the U.S. Property Claims Satisfaction Study from J.D. Power.

The federal district court order in Mississippi allows allegations of servicer responsibility for insurance shortcomings and excessive costs to proceed.

The top five insurance companies have an average homeowners market share of 9.15% as of December 31, 2024.

Digital Insurance spoke with Jonathan Collura, president and CEO of Specialty Risk RE, about how reinsurers could stabilize the home insurance market in areas affected by natural disasters.