Reported 1 day ago
The recent wildfires in Pacific Palisades, one of the most affluent areas in Los Angeles, are expected to significantly impact homeowners insurance costs, which have been relatively low despite high-risk conditions. Analysts warn that anticipated losses and regulatory changes may lead to an end to affordable insurance options for residents in wildfire-prone areas. As insurers face challenges in sustaining profitability, many are pulling back on coverage, prompting homeowners to seek assistance from state-run insurance programs.
Source: YAHOO