California Property & Casualty Insurance News

Insurance Commissioner Ricardo Lara ordered companies to preserve residential property insurance for 124,000 homes in wildfire-affected counties following an emergency declaration. Residents are protected from insurance cancellation or non-renewal for one year, regardless of loss status[1].

Farmers Insurance announced it will no longer limit the number of new homeowners policies offered in California, expanding coverage and availability for residents. The move signals optimism about market conditions due to recent regulatory strategies[3].

Eleven major California wildfires resulted in $50 billion in insurance claims in Q1 2025, straining catastrophe budgets and contributing to more selective underwriting by insurers. The events are reshaping risk appetites across the state’s property market[5].

In response to a year of devastating wildfires, California is considering new disclosure requirements to better monitor insurers’ long-term solvency. Industry groups express concern about the proposed oversight measures[9].

Recent rule changes proposed by Commissioner Lara are set to increase home insurance prices across California. The regulations are intended to stabilize the market, but critics argue they could lead to higher consumer costs[7].