The California insurance crisis laid bare by the Los Angeles fires was fueled by "regulatory failure," economist Nancy Wallace told Newsweek.

Next-door neighbors lost their near-identical homes in a California wildfire, but how they are navigating rebuilding is a story of contrasting fortunes and unequal recovery, a stark reflection of the

California's largest private insurer, State Farm, on Monday urged the state's insurance regulator to approve an emergency hike in rates to help offset the hefty payouts the company is making after devastating wildfires in Los Angeles last month.

State Farm General, California’s largest insurance provider, is seeking a rate hike after the catastrophic firestorm that impacted Los Angeles County in January.

Before a wildfire ravaged their Altadena, California street, Louise Hamlin and Chris Wilson were neighbors in nearly identical houses.

State Farm, the largest insurance company in California, has asked state regulators to immediately approve a steep rate hike for homeowners to prevent a "dire situation" for its customers and