with california’s population in decline rising home insurance premiums threaten to intensify the exodus and further weaken state and local finances sp global ratings inc warns the ratings firm sees a retreat by insurance companies prompted by wildfires skyrocketing rebuilding costs and regulatory limits on rate increases as poised to push the state’s already high homeownership costs even higher according to a report thursday reduced competition among the remaining insurers is expected to lead to higher prices and fewer options for current residents or those considering a move to california