Finance
California Sees Rise in Insurers Refusing Home-Policy Renewals
This article is for subscribers only.
Home insurers in California are increasingly refusing to renew certain policies after years of devastating wildfires.
Non-renewals climbed 31% throughout the state last year, with ZIP codes that had a “moderate to very high fire risk” seeing a 61% uptick, according to a presentation Monday by the California Department of Insurance. The regulator is hosting a hearing to discuss the state of the homeowners’ market.