What happened to California’s fire insurance? // TRAIN BRAIN

What happened to California’s fire insurance?

Why did insurance companies pull out of California right before the wildfires?
Well, back in the 1980s, California passed a bunch of regulations on insurance companies and after the 2018 wildfires, California went even further.
This might sound great in theory, but by 2023, two of the biggest insurance companies decided it just wasn’t worth it to offer insurance at a rate that could lead to financial failure. In 2024, they chose not to renew thousands of policies in the Palisades, Brentwood, and other areas at risk of wildfire. #California #LosAngeles #wildfire #insurance #home

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