Why are insurers fleeing California?

California home insurers. Last week, State Farm said it would stop selling new insurance policies to homeowners in California as of May 27, citing "historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market." The decision leaves Californians without one of the largest insurers in the country and the leading provider of homeowners insurance in the state, worsening the problem for residents already struggling to keep up with costly home insurance. Liberty Mutual and Allstate, other prominent homeowners insurance companies, have also left California.Tickets are officially live (and public!) for our event in Philadelphia on Thursday, August 3rd. Thanks to all the folks who bought tickets — we're off to an awesome start, and on track to sell this baby out! Remember: Our goal is to sell out the venue, and then take Tangle on the road. Please come join us! Tickets here.You can read today's podcast ⁠here⁠, today’s “Under the Radar” story ⁠here⁠, and today’s “Have a nice day” story ⁠here⁠. You can read the Vox article we reference in the Listener question here, and you can also check out our latest YouTube video here.Today’s clickables: Matt Lewis (0:54) Quick hits (2:23), Today’s story (4:25), Left’s take (6:31), Right’s take (10:15), Isaac’s take (14:16), Listener Question (17:22), Under the Radar (19:29), Numbers (20:26), Have a nice day (21:18)You can⁠ subscribe to Tangle by clicking here⁠ or drop something⁠ in our tip jar by clicking here.⁠Our podcast is written by Isaac Saul and edited by Jon Lall. Music for the podcast was produced by Diet 75.Our newsletter is edited by Bailey Saul, Sean Brady, Ari Weitzman, and produced in conjunction with Tangle’s social media manager Magdalena Bokowa, who also created our logo.--- Send in a voice message: https://podcasters.spotify.com/pod/show/tanglenews/message Hosted on Acast. See acast.com/privacy for more information.