“California Wildfires Drive Insurers Away, Sparking Legislative Action”
Fresno — Finding a company in California to write a homeowners insurance policy has become increasingly difficult, akin to winning the lottery, as wildfires force dozens of insurance companies to exit the state.
Patty Spott, who runs an insurance business in Exeter, said, “As soon as they have a wildfire, then the companies send out the moratoriums that they won’t be writing any new business in those areas.”
Despite being more than 200 miles from the fires burning in Los Angeles County, Spott’s business is affected.
“We’re lumped in with all the other areas of California, and our loss ratios traditionally have been good during these times,” she said.