Californian insurers no longer willing to underwrite natural disaster risks

The resurgence of natural disasters in California, wildfires in particular, is discouraging insurance companies. The latter do no longer want to cover the properties of individuals in high-risk areas. Between 2015 and 2018, Californian insurers terminated the fire policies of more than 340 000 homeowners.

To continue to benefit from a homeowner's coverage, residents will now have to resort to much more expensive State-baked programs.

According to a recent actuarial study, climate change is the main risk for insurers in 2019, ahead of cybercrime, terrorism and financial instability.

Discover our article on | the coverage of natural disasters in the United States [4]