In recent years, the number of home insurance policies written by California's surplus line carriers has fluctuated from a high of nearly 60,000 in 2018 to a low of fewer than 20,000 in 2021. In 2023, the number of homes covered by the surplus lines sector hovered around 39,000. Credit: Mario Cobian/Adobe Stock In recent years, the number of home insurance policies written by California's surplus line carriers has fluctuated from a high of nearly 60,000 in 2018 to a low of fewer than 20,000 in 2021. In 2022, the number of homes covered by the surplus lines sector hovered around 39,000. Credit: Mario Cobian/Adobe Stock

California's home insurance market witnessed seismic changes in recent years as major insurance carriers pulled back or completely exited a state. In addition to its long-standing wildfire risks, the state is battling a myriad of impactful factors, such as inflation and rising construction costs, that are rocking home insurance markets nationwide.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

Personal Lines
Catastrophe & Restoration
E&S/Specialty