One Year After the Los Angeles Wildfires: Recovery Progress, Ongoing Strain, and Insurance Implications

Wildfires are among forces of nature that cause huge devastation to humans and environment. wildfires have left little behind, turning communities to ashen, barren hills. Nearly every year, California experiences major wildfires that can be devastating to the environment and communities throughout the state.

The fires killed at least 31 people, destroyed more than 16,000 buildings, and burned nearly 80 square miles across Los Angeles and Ventura counties.

Fitch: Capital Strength Supports U.S. Life Insurer Ratings in 2026

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These factors position insurers to manage a more challenging operating environment that includes declining policy rates, slower economic growth, elevated macroeconomic volatility, and ongoing geopolitical uncertainty.

6 Insurtech Trends for 2026

Insurtech Insurance technology. Health family car money travel Insurtech concept.

Current projections estimate that the global insurtech market will reach approximately $23.5 billion by 2026, reflecting steady growth across multiple areas of the insurance industry.