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In a move reflecting the dire effects of climate change, insurance behemoth State Farm recently announced a halt on new home insurance sales in California.
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.
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.
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State Farm has announced that due to spiking wildfire risks and construction costs, it is leaving selling in California’s home insurance market