losses News

California’s Lara Orders 1-Year Moratorium for 750K Residents Following Wildfires

California Insurance Commissioner Ricardo Lara issued a mandatory one-year moratorium on insurance companies to preserve residential insurance coverage for 750,000 policyholders affected by the Airport, Bridge, and Line fires in the counties of Orange, Riverside, Los Angeles, and San Bernardino. …

Wildfire Risk Upends California’s Cannabis Heartland as Insurance Vanishes

Hannah Whyte is one of thousands of Californians who have struggled to insure their property in the event of wildfire. Her 77-acre farm nestled deep in a wildfire-vulnerable forest lost its coverage from State Farm after the mountainous region burned …

Cooler Weather Helping Fight Large Southern California Wildfire

Cooler weather is aiding the fight against a large Southern California wildfire, one of three large fires in the region. The Bridge Fire exploded in size on Tuesday, forcing evacuations in the communities of Wrightwood and Pinion Hills. Authorities also …

Firefighters Hope Cooler Weather Will Aid Battle Against 3 Major Southern California Fires

Firefighters battling three major wildfires in the mountains east of Los Angeles took advantage of cooler weather Wednesday as they slowly gained the upper hand, but not before dozens of homes were destroyed and thousands of people were forced to …

New Southern California Wildfire Threatens Mountain Communities

A quick-moving wildfire raced toward Southern California mountain communities as authorities warned residents to evacuate. The Bridge fire exploded on Tuesday, burning into the Wrightwood community and nearby Mountain High ski resort. The fire has burned 47,288 acres and is …

Another Fast-Growing Southern California Wildfire Forces Evacuations

A Southern California wildfire that broke out in Orange County’s Trabuco Canyon Monday has exploded to more than 8,500 acres overnight. By Tuesday morning, the Airport Fire had forced the evacuation of some homes in the area. CalFire reported there …

Wynn Resorts Paying $130M for Letting Illegal Money Reach Gamblers at Vegas Casino

Casino company Wynn Resorts Ltd. has agreed to pay $130 million to federal authorities and admit that it let unlicensed money transfer businesses around the world funnel funds to gamblers at its flagship Las Vegas Strip property. The publicly traded …

California Policyholders May Be On the Hook for Wildfire Losses

California homeowners could be required to pay a surcharge if the state’s insurer of last resort is unable to cover losses from a catastrophic wildfire. The California Department of Insurance sent a bulletin to insurance companies this week outlining how …

Fast-Growing California Wildfire Threatening 35,000 Structures

A fast-growing wildfire in Southern California, has burned 27 square miles, forcing thousands to evacuate had is putting roughly 35,000 homes and buildings at risk. The Line fire near San Bernardino more than quadrupled in size over the weekend, prompting …

Crews Slow Progress of Sierra Wildfire, But Evacuations Orders Remain

Firefighters battling a California wildfire that has burned through more than 5 square miles of the high Sierra made significant progress slowing its growth on Wednesday, but hundreds of residents whose homes are threatened remained under evacuation orders. The battle …