Part 11/13:
While there have been significant challenges, the insurance industry in California has largely remained operational, with most companies staying in the market, albeit more cautiously. The recent exodus of major insurers from writing new policies signals a need for reform, not necessarily failure.
The market's resilience hinges on legislative action, regulatory modernization, and industry adaptation. The reforms, including better risk modeling and incentivizing insurers to serve high-risk areas, are steps toward a sustainable future.