Power bills for about 16 million people in Northern California will likely increase after state regulators released two rate proposals for one of the nation`s largest utilities. The California Public Utilities Commission is finishing up its once-every-four- years review of …
Delos Insurance Solutions in California announced a $7.3 million seed extension round, enabling the managing general agent’s expansion in the California homeowners’ insurance market. The seed extension round was led by IA Capital Group. Participation in the round included Blue …
The Reinsurance Association of America has come out with a white paper on the California homeowners insurance market that urges policymakers consider the risks of inaction. The paper, “Dynamics and Challenges in California’s Homeowners Insurance Market,” provides background and recommendations …
A group of scientists used machine learning to quantify empirical relationships between temperature and the risk of extreme daily wildfire growth in California to show the influence of temperature on the risk – and they found that climate change boosts …
Crews battled “fire whirls” in California’s Mojave National Preserve as a massive wildfire crossed into Nevada amid dangerously high temperatures and raging winds. The York Fire was mapped at roughly 120 square miles on Monday night, with no containment. The …
A study out this week shows that nearly all of the observed increase in summer wildfires in California over the past half-century is attributable to man-made climate change. An international team of scientists looked at data from record-breaking summer forest …
Insurer groups may be seeing the light at the end of the tunnel with a hint of a possible change in a regulator’s attitude toward the use of catastrophe modeling in the California market for wildfire insurers. The California Department …
California regulations restrict insurers from using sophisticated computer models to consider the rapidly growing wildfire risks from climate change — and that limitation is a factor pushing US insurers out of the state. State Farm General Insurance Co. announced at …
Several reasons were given within State Farm’s announcement last week the carrier was no longer writing new personal or business property/casualty policies in California – including a challenging reinsurance market, increased risks and historic increases in construction costs outpacing inflation. …
The massive rainfall and snow California received this winter will likely delay the upcoming wildfire season for the state – though all that moisture is unlikely to curtail it much if at all, a wildfire report out today shows. The …
