California Was Already in Home-Insurance Crisis Before Los Angeles Infernos - WSJ

1. California wildfires caused severe damage, affecting thousands of properties. 2. Insured losses may exceed $8 billion, indicating immense market impact. 3. Major insurers like State Farm ceased new policies due to wildfire risks. 4. The Fair Plan's exposure increased 61% to $458 billion amid rising claims. 5. Rooted issues could stall progress in California's home-insurance recovery.