Can industry changes soften a hard property insurance market in California?

The article discusses the implication of the hardening of the property insurance market in California in 2020. Among the indications of the trend are non-renewals in wildfire prone areas, premium increases, and reduction in coverage. The factors that contribute to a hard insurance market include declining investment returns for insurers and increase in frequency or severity of losses. It cites the effect of changes in the Fair Access to Insurance Requirements (FAIR) plan in California.