Even low-risk homes are caught up in California's climate-driven insurance crisis [Los Angeles Times (CA)]
Mercury General Corporation (MCY)
Last mercury general corporation earnings: 2/10 08:30 am
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Source: Los Angeles Times
of homeowners to obtain bare-bones coverage from the state's insurer of last resort. The state intended the FAIR Plan as a backstop for homeowners unable to get insurance on the private market because they live in high-risk areas. Between September 2024 and December 2025, enrollment in FAIR surged 43% as insurers pulled back from California after a series of catastrophic wildfires, including last year's $40-billion Los Angeles infernos. But 14% of current FAIR policies are for properties largely in urban zones with low fire risk, according to a Bloomberg News analysis of FAIR plan data, with 28% of the cash-strapped plan's exposure now in those areas. “What we're seeing is that the infection of the market that existed in the high-fire-risk areas has spread into the normal parts of the market,” said Michael Wara, director of the climate and energy policy program at Stanford University. A spokesperson for the FAIR Plan declined to comment. California's climate-driven insurance
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MCY
Earnings
- 2/17/26 - Beat
MCY
Sec Filings
- 2/24/26 - Form 4
- 2/24/26 - Form 4
- 2/24/26 - Form 4
- MCY's page on the SEC website