Analysis

Why so many were uninsured before the LA fires

The spiralling costs of extreme weather and natural disaster only partly explain insurers’ withdrawal from the too-hard markets. Others blame excessive regulation.

Matthew CranstonUnited States correspondent

Updated Jan 12, 2025 – 5.52pm, first published at 5.46pm

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Washington | What could prove the most costly wildfire in US history has upended lives across Los Angeles and destroyed thousands of homes, businesses and other structures.

And while cherished possessions and keepsakes can’t be replaced, insurance can at least ease some of the pain. But thousands of Californians, many of them in the upscale Pacific Palisades neighbourhood devastated by the fires, are uninsured.

Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor.