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California’s insurance carrier exits – what’s the impact on claims?

July 5, 2023


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.

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