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Homeowners Insurance Crisis: Rates Soar as More Carriers Leave Market
Soaring premiums, fewer carriers and worsening weather trends are contributing to an insurance crisis for homeowners in many areas of the U.S. In New Orleans, Louisiana, the market for Homeowners Insurance is \"crumbling,\" CNN reported March 29, with one resident telling the news outlet that his premiums increased from $1,600 per year in 2022 to $4,930 after his previous carrier…
California Wildfires’ Impact Felt Throughout Insurance, Real Estate Markets
The impact of wildfires that raged across California the past two years will force one of the state’s largest utilities to file for bankruptcy protection later this month, but has also limited access to Homeowners Insurance policies statewide. Pacific Gas & Electric Corp. (PG&E), found at fault for some 2017 wildfires, now faces additional liabilities that could exceed $30 billion…
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