California’s $1 billion levy on private insurers, aimed at covering wildfire claims through its state-created safety net program, has brought attention to the mounting challenges facing the insurance industry. Analysts warn that the increasing financial burden, combined with rising wildfire-related risks, is causing insurers to reconsider their presence in the state’s market.
California’s $1 Billion Levy on Insurers Highlights Growing Struggles in Wildfire Insurance Market
