Severe and frequent natural disasters have hastened the insurance industry's retreat from high-risk areas, particularly Florida and California.

A woman in Altadena named Fran told NewsNation on Thursday that wildfires decimated her home in California some 26 years after her family moved into the beloved residence. "We did the floors, and we put in windows and doors and painted,

The most destructive wildfires ever for Los Angeles may cause billions of dollars in insured losses, ratings agencies said on Thursday, though many homes are likely uninsured.

The long-term picture for the insurance industry is brighter. Through the past five years of hurricanes and fires, insurance stocks have outpaced the S

Key Takeaways Insurance company shares dropped as the massive wildfires in California are now estimated to have caused $135 billion to $150 billion in damage and economic loss.AccuWeather said the costs from the deadly blazes could go substantially higher.