Tag: disaster risk management

The $3.5 Billion Shock That’s Making Global Insurance News Headlines

Angela Linders
climate change and how it's effective the insurance industry

Los Angeles Wildfires Are Giving the Global Insurance Industry a Wake-Up Call What happens in Los Angeles doesn’t just stay in Los Angeles. At least not when it comes to the wildfires blazing through the state. The financial shockwaves? They’re being felt across the Atlantic by European insurance giants. These companies are now staring at a $3.5 billion hit, covering nearly 10% of the total insured losses from the disaster. How did European firms even get roped into this fiery mess? The answer is simple. Insurance doesn’t have borders. European…

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California Insurance Companies Pull Out, But This Rule Could Bring Them Back

Live Insurance News
California Insurance

California’s New Rules to Tackle Home Insurance Crisis with Reinsurance Costs California has unveiled a new regulation allowing home insurers to charge higher premiums to cover reinsurance costs. This decision, led by Insurance Commissioner Ricardo Lara, marks the latest step by the state to address its home insurance crisis, as insurers withdraw from high-risk wildfire areas. Here’s what you need to know about the changes and how they could reshape the state’s insurance market. What the New Reinsurance Regulation Means For the first time in California, insurers can factor reinsurance…

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