State Farm cuts 72,000 policies in California, citing wildfire risks. https://bit.ly/3vFBRYn The move comes two weeks after the California Department of Insurance proposed letting carriers use catastrophe modeling, with the rationale that it would stimulate greater availability of wildfire insurance. https://bit.ly/3J7lmra Consumer advocates from Consumer Watchdog and the Consumer Federation of America have previously questioned the use of catastrophe models. https://bit.ly/4cLIUiX #insurance #climatechange #CaliforniaWildfires
