Are property insurance markets prepared to manage escalating climate risk? Climate change related disasters are become more frequent and more devastating, and wildfires are now the fastest-growing source of climate related damages in the United States. 2025 brought two catastrophic wildfires to Southern California: the Palisades Fire and the Eaton Fire. Together, these are costliest wildfires in U.S. history. One likelihood is that homeowners insurance will be increasingly hard to find and afford in areas prone to wildfires in California. State Farm …
