July 2 - Multi-State Investigation Targets Widespread Underinsurance After Wildfires

Following mounting complaints from wildfire victims, including many from the Eaton and Palisades fires, California and four other Western states have launched a joint investigation into underinsurance. The probe aims to understand how insurance policies left thousands of families unable to fully rebuild their homes after major disasters, some of whom discovered they were underinsured by $1 million or more. Regulators are now reviewing data and policy practices to propose reforms that ensure coverage better matches real rebuilding costs.