In her pop-art decorated office in the heart of Beverly Hills, real-estate broker Rochelle Maize got an early look at who would control the future of Pacific Palisades. It was eight days after the wildfires broke out— even then, the power of California’s insurance companies was becoming evident. Her clients buy and sell mansions in crown-jewel neighborhoods where listings bottom out around the single-digit millions. One client wanted to go ahead with a seven-figure purchase, risk be damned, even if he had to be self-insured—meaning he would proceed without a policy… The question for Los Angeles isn’t so much how to rebuild the Palisades, but who pays if it burns again. “Writing new policies doesn’t make any sense at this time,” State Farm General, California’s largest property insurer, wrote Tuesday to the state insurance commissioner. To shore up its finances, the company is seeking permission for a 22% rate increase for 1.2 million homeowners. [A paid subscription is required to read this article]