California wildfires will cost insurers billions
The economic toll from the California wildfires is just starting to become clear. Allstate is the latest insurer out with numbers. The insurance company says it will pay out $1.1 billion in insured claims.
California's $1 billion LA wildfire bill highlights insurers' struggle, analysts say
California's levy of $1 billion on private insurers to help pay out wildfire claims in its state-run program has renewed focus on the challenges the industry faces in a market already losing appeal rapidly,
California's last-resort home insurer is getting a $1 billion bailout. Homeowners could be on the hook for some of the bill.
The bailout will be funded by the state's private insurers, but a new rule says they they can pass up to half of the cost on to customers.
California’s insurer of last resort runs out of money to pay L.A. fire claims
In the aftermath of the Los Angeles fires, the FAIR plan gets a $1 billion bailout — the latest indication that California’s home insurance market is on shaky footing.
California's insurer for people without private coverage needs $1 billion more for LA fires claims
California’s plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out claims related to the Los Angeles wildfires, the state Insurance Department said Tuesday.
California’s High-Risk Insurer Gets $1 Billion Bailout After L.A. Fires
The move will likely lead to higher costs for households across the state, and may push more insurers to leave, intensifying a home insurance crisis.
California’s backup insurance provider seeks $1B after wildfires. Policyholders could pay half
The California FAIR Plan on Tuesday was allowed to seek $1 billion from insurance companies that do business in the state in response to the Los Angeles wildfires — half of which could ultimately be covered by policyholders.
California’s FAIR Plan gets $1 billion bailout after L.A. fires
California’s plan that provides insurance to homeowners who can’t get private coverage needs $1 billion more to pay out claims related to the Los Angeles wildfires, the
Allstate says California wildfires to bring company $1.1 billion in losses
Allstate said the wildfires blazed through Southern California last month will bring the insurance company a sizable loss – ...
Allstate expects $1.1 billion loss from California fires
Allstate insurance said it expects a $1.1 billion loss from claims caused by the wildfires that swept through Southern ...
Allstate Expects California Wildfires to Cost $1.1 Billion
In the fourth quarter, catastrophe losses took $315 million out of Allstate’s homeowners insurance business, up from $21 ...
Crain's Chicago Business6d
Allstate expects a $1.1 billion hit from the LA wildfires, but it could have been worse
Allstate Corp. said it expects about $1.1 billion of losses from the wildfires that ravaged swaths of Los Angeles last month.
Allstate expects $1.1 billion in losses from Los Angeles fires
Allstate Corp. said it expects about $1.1 billion in losses from the wildfires that destroyed Los Angeles County communities ...
Insurance Insider6d
Allstate’s $2bn wildfire bill cut by $900mn in reinsurance recoveries
Allstate’s 2024-25 nationwide excess catastrophe reinsurance provides coverage for events of up to $7.9bn of loss, less ...
Travelers Expects $1.7 Billion In Catastrophe Losses From California Wildfires
The Travelers Companies, Inc. (NYSE: TRV) announced Tuesday that it expects $1.7 billion in pretax catastrophe losses from the California wildfires that swept through the state in January. After taxes ...
Insurer Allstate's quarterly profit beats on underwriting strength, investment gains
Property and casualty insurer Allstate's fourth-quarter profit beat Wall Street expectations on Wednesday, helped by strong ...
Hosted on MSN6d
Allstate Gains Premarket After Q4 Profit Beat: Retail’s Bullish But Concerns Linger Over California Wildfires
Allstate Corp (ALL) shares rose 2.1% in premarket trade on Thursday after the company’s fourth-quarter earnings topped Wall ...