Fueled by the Santa Ana winds and a delayed rainy season, the Southern California Wild Fires displaced thousands of people and caused economic losses estimated to reach USD 50 Billion. Prior to the event, larger insurers in the area had not only stopped issuing policies, but also dropped coverage for a majority of insurance plans in the Palisades. This leaves homeowners with few remaining options, which could mean expensive yet limited coverage, with a high possibility of increasing rates.

Insured losses are expected to be on a USD 20-30 Billion range. This would still be within expectations of a years loss load and unlikely of itself to change market; though it is of note that we are still at the first month of 2025. Hear what businesses from the Asia Pacific region can learn from the Southern California Wild Fires, and how this series of events affects the insurance market.