Caleb Petitt

1 month ago | independent.org | K. Lloyd Billingsley |Kristian R. Fors |Lawrence J. McQuillan |Caleb Petitt

For Immediate ReleaseMay 12, 2025Oakland, Calif.—California homeowners are facing an insurance crisis. Policies are being cancelled, leaving homeowners unprotected from increasingly destructive catastrophes, like wildfires. How did this crisis begin? And more importantly, how can it be solved? The insurance regulatory framework in California has created a situation in which the insurance premiums that companies collect do not reflect the risk that they are exposed to, causing insurers to flee.