Major insurer cites climate change as it stops home insurance sales in California
Firefighters battle the Coastal Fire in Laguna Niguel, California in May 2022. Photo: Wally Skalij/Los Angeles Times via Getty Images State Farm is...
May 29, 2023
4:30 PM
Firefighters battle the Coastal Fire in Laguna Niguel, California in May 2022. Photo: Wally Skalij/Los Angeles Times via Getty Images State Farm is no longer homeowner insurance applications in California due to 'historic increases in construction costs outpacing inflation' and 'rapidly growing catastrophe exposure' to extreme weather events like wildfires, the company announced. Why it matters: Multiple studies show climate change is influencing the frequency and severity of extreme weather eve
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