The withdrawal of large insurance carriers like Allstate and State Farm from California’s insurance market will have a significant impact on claims, at least one claims services provider has told Insurance Business.
Remaining carriers must shoulder huge nat-cat risks in the state, which often sees enormous claims from wildfire damage. Robbie Arnold (pictured), managing director at Charles Taylor, a global claims services provider, said he expects insurance companies to respond by tightening their underwriting and raising premiums.
