Insurance company cancelled insurance of hundreds of homes before LA wildfires

State Farm, one of the biggest insurers in California, cancelled 1,600 policies in July in Pacific Palisades which has been ravaged by wildfires in Los Angeles, United States. The company justified the move saying it wanted to avoid "financial failure". "Our number one priority...is the safety of our customers, agents and employees impacted," State Farm said on the wildfires.