6 public companies told the SEC they depend on California.

“As a result of the January California wildfires, the FAIR Plan received regulatory approval on February 11, 2025 to assess member insurers $ 1.00 billion. The Company's personal lines and commercial lines average market share used for the assessment was 4.6 % and 2.0 %, respectively, net of credits.”

“At December 31, 2025, 54.1% of the gross leaseable area of our portfolio is located in the State of California. Additionally, 15.2%, 14.4%, and 8.7% of the gross leaseable area of our portfolio is located in the States of Washington, Oregon and Texas, respectively, and we have a meaningful presence in Oahu, Hawaii.”

“Our business is concentrated in California, where we generated 46% of our gross premiums written for the year ended December 31, 2025.”

“Our stores are located in California (284), Washington (76), Oregon (63), Pennsylvania (39), Tennessee (24), Idaho (17), Nevada (16), Maryland (15), Ohio (11), New Jersey (9), North Carolina (8), Georgia (4), Alabama (1), Delaware (1), Kentucky (1) and Virginia (1).”

“Our primary market is located in California, which is subject to earthquakes and other weather or disasters, such as severe rainstorms, wildfire or flood, as well as health epidemics or pandemics (or expectations about them).”

“Real estate properties located in California, Florida and New York-Newark-Jersey City core-based statistical area accounted for 24.8 % , 19.7 % , and 12.6 % of AB R, respectively. As the result, this geographic concentration of our portfolio makes it potentially more susceptible to adverse weather, natural disasters or economic events that impact these locations.”