Challenges in California's Home Insurance Market

This chapter explores the complexities of the homeowner's insurance landscape in California, highlighting the impact of climate change on underwriting practices and premium increases. It discusses the strategic shifts by insurers to focus on lower-risk customers amid rising claims from catastrophic events, as well as the regulatory challenges that complicate their operations. The narrative also emphasizes the plight of homeowners facing policy non-renewals and the financial strain on programs like California's Fair Plan amidst an overwhelming number of claims.