Daily P&C Insurance Agent News
- December 24, 2025
- Tony Veteto
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Daily Property & Casualty Insurance News – California
Curated headlines and insights impacting carriers, agents, and insureds across California.
California Headlines
Home Insurance / Regulation
California home insurance premiums projected to rise 20% or more by end of 2025
Publication date: December 2025
California home insurance premiums are expected to climb roughly 20% or more by the end of 2025, driven by wildfire losses, higher reinsurance costs, and inflationary rebuilding pressures.[2] Large carriers are seeking rate increases of up to 30% as regulators allow greater use of catastrophe models, signaling continued affordability and capacity challenges for homeowners.[2]
Wildfire / Consumer Protection
Commissioner Lara protects thousands of Californians from non-renewals following Pack Fire
Publication date: December 19, 2025
Insurance Commissioner Ricardo Lara ordered insurers to preserve residential property coverage for more than 14,800 policyholders in Mono and Inyo counties after the Pack Fire and a related emergency declaration.[1] The one-year moratorium blocks non-renewals and cancellations regardless of loss, extending California’s wildfire protections while broader market reforms aim to keep carriers writing in high-risk areas.[1]
Reinsurance / Catastrophe Bond
California FAIR Plan seeks reduced spread for $750m Golden Bear Re wildfire cat bond
Publication date: December 2025
The California FAIR Plan has upsized its debut Golden Bear Re catastrophe bond to target $750 million of fully collateralized wildfire reinsurance while pursuing lower spread pricing amid strong investor demand.[4] The record-sized deal aims to stabilize the state’s insurer of last resort and ease some of the wildfire risk burden behind homeowner coverage in distressed zones.[4]
Catastrophe / Market Conditions
Los Angeles fires push 2025 insured disaster losses to $107 billion
Publication date: December 16, 2025
New Los Angeles–area wildfires have helped drive global insured natural catastrophe losses in 2025 to about $107 billion, despite the absence of a U.S. hurricane landfall.[7] Analysts note that California’s fire activity continues to be a major contributor to global loss totals, reinforcing reinsurer focus on exposure, pricing, and terms for Golden State property risks.[7]
Catastrophe / Claims
California wildfires add $50 billion in claims in early 2025
Publication date: Q3 2025
An IMA market report estimates that 11 California wildfires in early 2025 generated approximately $50 billion in insured claims, consuming nearly half of the industry’s annual catastrophe budget.[4] Carriers are tightening underwriting and becoming more selective in high-risk California zones even as other parts of the P&C market show signs of stabilizing.[4]
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