Manifold MarketsNo KYCVerified resolution dataFairly calibratedCurrent community forecast
Yes 50.1%
Yes 50.1%Forecasters
3
Question type
binary
Methodology
Play-money forecasting platform
Source type
Forecast
Market data
Updated 9 hours ago
StaleJan 10, 25, 2:28 PM UTCDec 31, 28, 11:59 PM UTC
Trends
Rules
Proposition 103, passed by California voters in 1988, requires prior approval for property and casualty insurance rates.
- In recent years, California has faced escalating wildfire risks, leading to substantial losses for insurers.
- The recent Los Angeles wildfires have caused unprecedented damage, with estimates suggesting they could become the costliest in the state's history.
- Business Insider
- In response to these challenges, major insurers like State Farm and Allstate have ceased accepting new homeowner insurance applications in California, citing increased wildfire risks and soaring construction costs.
- The insurance industry's withdrawal has sparked debates about the sustainability of Proposition 103.
