The proposals come amid intensifying insurance stress. In California, the deadly January 2025 Los Angeles‑area wildfires destroyed more than 18,000 homes and properties, triggering steep premium hikes, widespread non‑renewals and thousands of delayed or denied claims. Reliance on the FAIR Plan has increased 500% in less than a decade as major carriers have withdrawn capacity. The plan expects to pay $4 billion in losses from the 2025 LA fires and has called on participating insurers for US$1 billion in funding, with roughly half likely to be recouped through further rate rises.
Climate clash: US states target Big Oil to shore up home insurance markets
By Awais
