California's fire year drove 28% of all US homeowners losses, and next commissioner inherits fallout
California's devastating 2024 wildfire season accounted for 28% of nationwide homeowners insurance losses, heavily distorting the national market. The incoming insurance commissioner will face intense pressure to stabilize availability and affordability across the state. LA entrepreneurs and brokers nationwide are watching the November 3 election closely as its outcome will shape risk management and coverage options for years.
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Summary written by Entrepreneurs Of Los Angeles. The original reporting belongs to Insurance Business; we do not republish the article.