Daily P&C Insurance Agent News
- June 29, 2026
- Tony Veteto
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Daily Property & Casualty Insurance News
Key developments impacting California insurance agents and the P&C market
California Property & Casualty Headlines
Home Insurance
Why California’s Homeowners’ Insurance Market Collapsed—and How to Fix It
Published: May 12, 2025
This analysis explains how wildfire losses, escalating claim costs, and regulatory price controls pushed major carriers to stop writing and renewing homeowners policies in California. It also evaluates the growing exposure of the FAIR Plan and the likelihood of surcharges that could drive premiums higher statewide.[1]
Home Insurance
California Insurance Crisis: List of Carriers That Have Fled or Reduced Coverage in the State
Published: June 3, 2024
This report details the growing list of property insurers that have exited or sharply reduced homeowners coverage in California, including Travelers’ decision not to renew thousands of policies. It highlights how reduced capacity is leaving many property owners with fewer options and pushing more risks into residual market mechanisms.[6]
Market Conditions
Several Major Auto Insurers in California Win Approval for Significant Rate Hikes
Published: February 19, 2025
This daily briefing notes that several top auto carriers in California received approval for sizable rate increases as they attempt to catch up with post‑pandemic claim severity and inflation‑driven repair costs. The article underscores how these filings are reshaping pricing, retention, and competitiveness for personal auto agents across the state.[9]
Reinsurance
Reinsurance Expected to Be Available to Companies on the Ground in California, Says Incoming USAA CEO
Published: January 9, 2025
In this interview, USAA’s incoming CEO explains that despite California’s catastrophe exposure, reinsurance capacity should remain available to carriers operating in the state. The discussion emphasizes how adequate reinsurance support is critical to stabilizing property markets and maintaining coverage for California policyholders.[7]
Home Insurance
Five Property Insurers Return to California Amid New Reforms
Published: November 14, 2025
This segment reports that five property insurance companies which previously left California have re‑entered the market following regulatory reforms announced by state officials. The piece outlines how the changes aim to make rate approval more flexible and encourage carriers to expand homeowners capacity in high‑risk areas.[10]
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