In the fourth quarter, catastrophe losses took $315 million out of Allstate’s homeowners insurance business, up from $21 million the year before.

It's estimated the damage from the Southern California wildfires will cost up to $45 billion to remedy. That's according to two analytic firms, Verisk and CoreLogic, which calculated property losses covered by insurance in the Palisades and Eaton fires.

Allstate Corp. said it expects about $1.1 billion of losses from the wildfires that ravaged swaths of Los Angeles last month.

There are growing questions about the effectiveness of a plan to address California's water crisis, weeks after the deadly wildfires.

President Trump’s order to release billions of gallons of water in California’s Central Valley last week — with the purported goal of dousing fires 100 miles away — is being slammed as both ineffective and wasteful by experts and California lawmakers.

State Farm General, California’s largest insurance provider, has requested an emergency interim rate hike averaging 22% for homeowners from state officials on Monday, citing a “dire” financial situation after destructive Los Angeles wildfires last month.

California's largest private insurer, State Farm, on Monday urged the state's insurance regulator to approve an emergency hike in rates to help offset the hefty payouts the company is making after devastating wildfires in Los Angeles last month.