California’s Fires Are Creating Another Problem: Fleeing Insurers

Residents of U.S. towns damaged by wildfires may need to prepare for another repercussion: insurers that decide to cancel policies because of increased risks from more frequent fires. Facing mounting losses, some property insurers are pulling back from selling policies in California and other western states where wildfire risk is elevated. In California alone, damages had mounted to at least $12 billion by early 2018, while the state’s Carr fire likely added another $1.5 billion in insured losses. The tinderbox conditions in California were already dangerous in January when Insurance Commissioner Dave Jones warned of the "growing problem" of fire insurance unavailability within the state.