Whoa now. That is some prejudiced and elitest reporting. How dare anyone acknowledge the problems in florida, the sunshine state that is perfect.

In all seriousness: It sounds like this is being a bit over reported, but the extent to which they are pulling out remains to be seen. And it is going to REALLY suck for florida as people are stuck holding mortgages for condemned and washed away houses.

But it also sets a really concerning precedent. California has already seen issues (but, being a functioning government, are setting up government programs to protect people from wildfires). But more and more of the country/world are going to become uninhabitable over the next few decades and insurance companies are likely to pull out of risky areas and just raise premiums elsewhere.

I’d say Arizona and Texas are at higher risk than California, unless earthquakes get way more frequent and bad.

The risk in CA is that they have built so many communities in areas that are prone to wild fires (and in some cases are even part of the natural eco system) that is inevitable that if they rebuild that it will burn down again. They also have high material costs, higher labor costs, and more stringent building codes (rebuilding to code can get really expensive). Lastly CA has a more highly regulated insurance market which protects consumers, but makes it less profitable for insurance companies. While IMO this is a good thing it has ripple effects on whether or not the private market wants to participate.

Confirmed. Im in california and am currently on fire