FBT Gibbons’s Michele Levinson authored an article for the PropertyCasualty360, “California’s Insurance Market Year in Review,” offering a comprehensive look at the forces that shaped the state’s property insurance landscape throughout 2025.
Levinson explores a year marked by severe wildfire losses, market instability, and sweeping regulatory activity. She explains how the January 2025 wildfires pushed an already fragile insurance market to the brink, driving billions in claims and accelerating insurer withdrawals that had been building for years.
“The writing was on the wall well before the 2025 fires that the California property insurance market was at risk of an imminent collapse,” Levinson notes, emphasizing how long‑standing regulatory constraints, climate-driven losses, and limited pricing flexibility created untenable conditions for many insurers.
Levinson concludes that while the challenges of 2025 served as a wake-up call, meaningful reform is underway and the year ahead will be critical in determining whether California can achieve sustainable stability in its property insurance market.