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This was done earlier this year, The Institute & Faculty of Actuaries published a paper on the true risk climate has on the world economy. Insurance companies are most likely only starting to get this information and large payouts from the wildfire's, the hurricanes and the flooding is most likely already pushing the companies to insolvency. You can of course move risk around with re-insurance and spun out independent insurance companies but the risk to overwhelming the entire system is becoming higher and higher each year. I wouldn't be surprised if the specific account used for the CA wildfire payouts was empty and overdrawn and State Farm was caught off guard by that and had to do some serious amount of moving money around to fill it back up. Enough where it took a couple of days to come up with the cash, that in itself is really scary.