Page 18 - Michael Soller News Today

The largest insurer in California said it would stop offering new coverage. It’s part of a broader trend of companies pulling back from dangerous areas.

Wildfires and expensive rebuilding wiped out profits among California home insurers. State Farm isn’t the first insurer to retreat from the state, and may not be the last. Story from @CalMatters.

Proposition 103 was passed in 1988 to control auto insurance rates. It's destroying the property insurance market, experts say.

Deadly wildfires and expensive construction costs are driving State Farm out of California's home insurance market.

Inflation, construction costs and intensifying wildfire seasons pushed State Farm to stop taking new homeowners' insurance applications in California.

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The company cited wildfire risks as a reason for halting new policies.

The insurance giant stopped accepting applications for all business and personal lines property and casualty insurance in California on May 27.