Catastrophe bonds and related insurance-linked securities surged to a record $17.7 billion in issuance during 2024, driven by a robust first half and strong year-end performance.

California authorities, including Insurance Commissioner Ricardo Lara, are addressing rising fraud cases after wildfires, deploying resources to protect survivors and prosecute scammers.

The Palisades and Eaton wildfires in Los Angeles have damaged or destroyed 17,027 structures, with estimated insured losses reaching $32.5 billion, making this one of the costliest wildfire events in U.S. history.

The accelerating impacts of climate change, coupled with slow government response and human reluctance to prepare, are driving a homeowners insurance crisis in wildfire-prone states like California.

Moody’s projects insured losses from uncontained LA wildfires to range from $10 billion to $20 billion, impacting homeowners, commercial insurers, and the E&S market amid California’s ongoing insurance challenges.

The Los Angeles wildfires are projected to result in $20 billion in insurance losses, prompting reinsurance recoveries for some carriers as analysts assess exposure across property and auto lines.

California’s Palisades Fire has consumed thousands of acres and homes, with high winds complicating firefighting efforts. Federal aid and state resources aim to assist affected residents.

Southern California faces extreme fire conditions fueled by hurricane-force winds, forcing mass evacuations and widespread power outages, with no immediate relief in sight.

Presenters at Triple-I’s Joint Industry Forum spotlighted how granular data, innovative insurance products, and consumer education are closing climate-related protection gaps.

California introduces new regulations requiring insurers to increase home coverage in wildfire-prone areas, aiming to stabilize the insurance market and support homeowners.

In 2025, the global green transition faces challenges and opportunities, from rising EV sales and nuclear energy interest to increased coal reliance and stricter PFAS regulations.

As climate-driven disasters increase, nonrenewed home insurance policies are surging nationwide, impacting property values, mortgages, and economic stability in vulnerable communities.

Northern California grapples with flooding and tornadoes, while Southern California battles wildfires and heat in an unprecedented stretch of extreme weather linked to La Niña and climate change.

Teamsters union members in multiple cities threaten a pre-Christmas strike, pressuring Amazon to negotiate amid labor disputes over unionization and workplace rights.

The Senate Budget Committee attributes rising non-renewal rates to climate change, but insurance experts highlight other drivers like inflation, litigation, and overbuilding.