CALIFORNIA'S $1 BILLION LA WILDFIRE BILL HIGHLIGHTS INSURERS' STRUGGLE

California's levy of $1 billion on private insurers to help pay out wildfire claims in its state-run program has renewed focus on the challenges the industry faces in a market already losing appeal rapidly, analysts said.

Stringent regulations and recurring wildfires have driven some insurers away from the state in recent years, as companies scale back from risky geographies where frequent natural disasters are leading to billions in losses.

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