Israel tells Palestinians to leave Gaza City as forces press deeper
The Israeli military on Saturday urged Palestinians in Gaza City to flee south as its forces pressed deeper into the territory's largest urban centre,...
Southern California is reeling from the largest wildfires in Los Angeles County's history, with over $50 billion in damages and more than 5,000 structures destroyed. As insurance options dwindle and rebuilding costs soar, residents face tough choices.
Southern California is grappling with the aftermath of the largest and costliest wildfires in Los Angeles County's history, which have caused over $50 billion in damages, according to JP Morgan analysts.
The Palisades Fire alone destroyed more than 5,000 structures, leaving homeowners to decide whether to rebuild or relocate in the face of skyrocketing costs and insurance uncertainties.
State Farm and other major insurers have pulled back from California, citing increased wildfire risks, leaving many residents with the state’s FAIR Plan — a last-resort insurance policy with limited coverage, high premiums, lower maximum coverage limits and lack of personal liability protection.
FAIR Plan policies grew from 200,000 in 2020 to over 450,000 by late 2024, tripling the plan’s loss exposure to $458 billion. Critics warn these bare-bones policies may leave wildfire victims underprotected.
“It’s just an unmitigated disaster,” said Amy Bach, executive director of United Policyholders. “Wildfires in January? This just proves insurers’ point that the risk is so significantly increased due to climate change.”
Rebuilding will test the region’s resources. About 25% of the construction workforce consists of immigrant labour, essential for recovery.
However, President-elect Donald Trump’s proposed mass deportations could exacerbate labor shortages. Construction costs are also climbing due to high tariffs on materials like lumber and appliances.
Governor Gavin Newsom likened the recovery effort to a “Marshall Plan,” emphasising federal disaster assistance and the need for collaboration.
President Joe Biden has pledged full federal disaster relief to California for six months. “We’re all better off when we’re working together to take care of people,” Newsom said.
Insurance reforms, including the ability to factor climate change risks into premiums, aim to stabilise the market. Yet, experts like Denise Rappmund of Moody’s warn these changes could drive premiums even higher.
As Southern California rebuilds, the focus remains on balancing immediate recovery with long-term resilience, a challenge amplified by the looming 2028 Olympics in Los Angeles.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
The Israeli military on Saturday urged Palestinians in Gaza City to flee south as its forces pressed deeper into the territory's largest urban centre, warning that operations were underway across the city.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 6th of September, covering the latest developments you need to know.
U.S. President Donald Trump said on Friday that India and Russia appear to have been “lost” to China after their leaders met with Chinese President Xi Jinping this week, before later clarifying that Washington had not lost New Delhi.
U.S. President Donald Trump signed an executive order on Friday renaming the Department of Defence as the “Department of War,” reviving a title last used in the aftermath of World War Two.
U.S. Treasury Secretary Scott Bessent on Friday called for a wide-ranging re-examination of the Federal Reserve’s role and authority, including its control over interest rate policy, as the Trump administration steps up its campaign to assert greater oversight over the central bank.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment