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In the wake of California’s largest ever wildfire event, the insurer decided to change course on policy renewals.
CoreLogic: Losses from fires now estimated to be between $35 and $45 billion.
Small defects can create big problems over time.
“Hydroclimate whiplash” and other factors are creating ideal conditions for blazes.
Insured losses are now estimated at $30 billion.
Some risks are still difficult to insure, even with increased capacity.
Early estimates expect the damage to top $50 billion.
Aon: Risk of trip cancellation is a top motivator for buyers.
MarketScout: Composite commercial lines rate also saw a continued increase.
Policygenius: Fifty-one percent of homeowners ages 18 to 34 had their coverage dropped in the last three years.