More insurers refusing cover as California wildfires rage

As three California wildfires continue to ravage California, destroying more than 7,000 structures and displacing hundreds of thousands of people, more insurers are refusing cover, according to local press reports.

"As California wildfires grow larger and more intense, an increasing number of insurance companies are not renewing policies for customers who live in areas they deem too risky to cover," wrote Laura Newberry of the Los Angeles Times. "The state estimates that more than one million California homes are considered at high risk for wildfires."

California homeowner complaints about being dropped from their plans increased threefold from 2010 to 2016, and complaints about premium hikes increased by 217%, reported Newberry, citing a California Department of Insurance report.

California Insurance Commissioner David Jones told the Associated Press he expects more rate increases and more policies to not be renewed, particularly in high-risk fire areas.

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

Aston Lark acquires Protean Risk

Sedgwick appoints new managing directors to drive growth in UK

Self-driving vehicles on public roads change insurance risk

Motorists would choose green replacement part: Allianz

Feature:  10 ways insurers are using insurtech to drive new business