In recent years, most home insurers were fleeing areas of California with high risk for wildfires. But State Farm was there, dominating the market. Then, just months before the devastating L.A. fires, the company dropped 30,000 homeowners from their books. WSJ’s Jean Eaglesham explains how the risk that State Farm unloaded is now a problem for the rest of California.
Further Reading:
-State Farm Was All In on California – Until it Pulled the Plug Before the Fires
-Insurers’ Rule Change Puts California Homeowners on the Hook for L.A. Fire
Further Listening:
-Their L.A. Neighborhood Burned. Two Residents Find What’s Left.
-Insuring a Home in California Is Getting Harder
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State Farm Cut Policies. Then the Fires Hit. | The Journal. podcast - Listen or read transcript on Metacast
