In the last five years, the Californian wildfire problem has started to majorly influence the insurance market. The eight largest California wildfires have all occurred since December 2017. Forty-thousand structures have been destroyed and tens of thousands more had soot damage, and according to Mark Sektnan of the American Property Casualty Insurance Association, "Insurers in some cases paid out more than four dollars for every dollar that they took in." And at the end of 2021, we had our first major departure as AIG is no longer offering admitted insurance coverage in California.
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