California has been hit with an exodus of property insurance companies in recent years, and the state's ongoing wildfires threaten to make the problem worse.

In 2019, the number of homeowners’ policies in California that were not renewed jumped by more than thirty per cent. In 2023, two giant insurers, State Farm and Allstate, announced that they would stop writing new policies for various forms of property insurance in California.

Insurance companies and rates haven’t kept up with increasingly catastrophic events like the California wildfires or hurricanes that recently hit Florida, Tennessee and North Carolina. It can put