“Believe it or not, California has some of the lowest rates in the United States out of any state, because of … rate suppression,” said Chris Hebard, president of Hebard Insurance Solutions, a Northern California-based agency that offers home, auto, farm, and other net worth insurance for both personal and business use, on a recent…

Another major insurance provider has announced it’s no longer selling new policies for personal and business properties in California, becoming the latest insurer to reduce its footprint in the state amid inflationary pressures and growing exposure to wildfire risks. Allstate, the fourth-largest provider of casualty and property insurance in California, said in a statement obtained…