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Photo by Kostiantyn Li on Unsplash

As climate shocks grow, lawmakers investigate insurers fleeing risky areas

Faced with growing losses from hurricanes, floods and wildfires, major insurance companies are pulling out of California, Florida and Louisiana — a shift that threatens to undermine the economies of those states.

Camp Fire: CA home insurer can’t pay claims, goes insolvent

Camp Fire: CA home insurer can’t pay claims, goes insolvent

Potential monetary losses from the Camp Fire led a judge to declare Merced Property & Casualty Co. of Atwater insolvent on Monday. The wildfire in California destroyed more than 13,000 homes, mostly in Paradise.
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