"California Home Insurance Crisis Worsens as Nationwide Subsidiary Plans Exit"
American National Group is discontinuing homeowner insurance coverage in California and eight other states due to significant and persistent profitability issues, inflationary pressures, and increased claims frequency. This decision comes as home repair prices surge amid wildfires and heightened HOA costs. The departure of American National, along with other insurance companies pausing new homeowner policies or updating their rules in California, is leaving homeowners with fewer options and higher costs, potentially delaying or preventing homeownership for prospective buyers.