-
Sources say the Fair Plan is under-reserved, leading to the possibility of member assessment. -
The carrier is the largest writer of homeowners’ multi-peril in the state.
-
CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines.
-
As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
-
The 2024 loss figure exceeded that of the previous record of C$6.2bn in 2016.
-
The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.
-
The index’s performance in November was stronger than the prior year, although YTD returns are behind 2023.
-
Utilities have faced major liabilities for their involvement in starting wildfires.
-
Investigators are homing in on the likely causes of the incidents.
-
The number of structures damaged may put the event on par with the fires of 2017 and 2018.
-
The company’s stock price has plummeted in the wake of the LA wildfires.
-
Sources say 2025 could be as costly for wildfires as the $20bn-loss years of 2017-18.
