California Loses 2 More Property Insurers in Growing Crisis

By Daniel Walker | April 23, 2024

California's Department of Insurance

Two additional insurance firms are discontinuing property insurance services in California, contributing to the increasing number of insurers withdrawing from the state, intensifying the ongoing crisis.
 

test article image
via KTLA 5

Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., subsidiaries of the Japanese company Tokio Marine Holdings Inc., have submitted notices to California's Department of Insurance announcing the termination of homeowners insurance and umbrella policies in the state.
 

Non-renewal notifications

test article image
via KTLA 5

This decision will affect over 12,500 policyholders, who will receive non-renewal notifications beginning on July 1st.