Tag: wildfire prone areas insurance

The End of FAIR Plan Dependence? California’s Big Insurance Industry Fix

Ben Jones
California Insurance Industry Options

California’s Insurance Market Shake-Up: What’s Happening and What It Means for You Big changes are coming to California’s insurance industry market. And they’re not just tweaks. These are game-changing reforms aimed at fixing a system that’s been struggling under the weight of climate change, rising costs, and outdated rules. So, what’s the deal? Let’s break it down. What’s the Problem? For years, homeowners in wildfire-prone areas have been stuck. Insurance companies have been pulling back, refusing to write policies in high-risk zones. Why? Because the risks are just too high,…

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Why Chubb Is Non-Renewing Home Policies in California and What They’re Offering Instead

Nordstrom
Chubb

Chubb’s California Policy Shift: What It Means for Homeowners Chubb is making big changes in California. Starting mid-October 2025, it will stop renewing hundreds of admitted policies for high-value homes. Instead, these customers will get quotes under its Excess & Surplus (E&S) lines. Why the shift? And what does it mean for homeowners? Let’s break it down. What’s Happening? Admitted policies, which are tightly regulated by the state, are being phased out for many of Chubb’s high-net-worth clients in California. These policies come with consumer protections, standardized coverage, and price…

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A Bold Idea: Can Parametric Insurance Help California Attract Competition?

Ben Jones
california property insurance

California Insurance Crisis: What’s Going On? California’s got an insurance problem. It’s not a small hiccup; it’s a full-blown crisis. Why? It’s a perfect storm of wildfires, climate change, and big insurance companies saying, “No thanks.” Homeowners are being left high and dry, and it’s creating a scary situation. Why Are Insurance Companies Leaving? It all comes down to risk. Wildfires are happening more often, causing major destruction, and they’re harder to predict. For insurance companies, this means big payouts and shrinking profits. Some have simply decided it’s not worth…

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