Insurers take a hard look at California and see growing wildfire risk

After the wildfire disasters in California, it may be tougher for some homeowners in canyon and hillside areas of the state to keep their current insurance. It also could force some homeowners in areas deemed a high risk to go to a fall-back insurance plan created by the state decades ago, California Insurance Commissioner Dave Jones told CNBC in an interview. He also said it's not only rural areas but now some urban-type areas of the state that are increasingly getting viewed by insurers as an elevated fire risk. Insurers refused to renew more than 10,000 policies in fire-hazard areas in 2016 after previous fire disasters. And, following last year's devastating wildfire season that trend could repeat itself. Also, the Southern California community of Montecito had deadly mudslides on Jan. 9 in areas burned by the record-breaking Thomas wildfire. The seaside town was not in a recognized flood zone so many homeowners reportedly didn't have flood insurance.