Insurance challenges loom large with predictions of an active US hurricane season, possibly featuring up to 25 named storms, significantly higher than the usual 14. Warmer ocean temperatures could intensify these storms, increasing the likelihood of landfalls. This forecast has prompted insurers to take precautions, with numerous companies withdrawing coverage due to record-breaking weather and climate disasters in recent years. Florida and Louisiana have seen several insurers closing down operations, leading to soaring home insurance premiums. In California, State Farm has discontinued coverage for 72,000 homes due to escalating wildfire risks.
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