California’s insurance is in crisis. The solution will cost ... - CNN
2 days ago · Between 2020 and 2022, insurance companies declined to renew 2.8 million homeowner policies in the state, according to the most recent data from the California Department of Insurance.
The Insurance Crisis That Will Follow the California Fires
21 hours ago · Last week, on the day before New Year’s Eve, California’s insurance commissioner, Ricardo Lara, announced what his office called “a landmark regulation” to improve access to coverage. The ...
California insurance commissioner halts policy cancellations in ...
1 day ago · California’s insurance commissioner issued a one-year moratorium on policy nonrenewals and cancellations in areas affected by devastating wildfires in and around Los Angeles. “I am using my ...
LA fires could worsen California’s stressed insurance market
1 day ago · That’s because, for the past few years, insurance companies have been canceling policies or refusing to write new ones in California, citing rising risk of wildfires. As a result, the FAIR Plan’s number of homeowner policies grew to more than 451,000 as of September 2024, an increase of 123% over the past three years.
Los Angeles wildfires magnify California's 'insurance crisis' as ...
2 days ago · The state Department of Insurance issued a new regulation last month meant to turn the tide of some of the largest insurance companies' refusal to take on new customers in California or decisions ...
Homeowners Affected by Palisades and Eaton Fires Get Insurance ...
1 day ago · California’s insurance commissioner won’t allow canceled or nonrenewed policies in and around the fire zones for a year. By Debra Kamin Los Angeles homeowners living in the zones of the ...
This could be the beginning of the end for fire insurance in California …
2 days ago · LOS ANGELES — Wednesday’s firestorm in a wealthy area of Los Angeles could be the final straw that breaks California’s insurance market. The state’s insurance market has been teetering on ...
California will soon require insurers to ... - Associated Press News
Dec 30, 2024 · SACRAMENTO, Calif. (AP) — Insurance companies that stopped providing home coverage to hundreds of thousands of Californians in recent years as wildfires became more destructive will have to again provide policies in fire-prone areas if they want to keep doing business in California under a state regulation announced Monday.. The rule will require home insurers to offer coverage in high-risk ...
California hopes to lure insurance companies back with extreme ... - NPR
Jun 26, 2024 · Insurance companies have dramatically pulled back from offering homeowners policies in California. That's tied to inflation and wildfires fueled by climate change and decades of fire...
Why are State Farm and others leaving California's home insurance ...
Mar 29, 2024 · Major insurers have pulled back from California's homeowners market, citing wildfires, inflation and other challenges. But there are steps at-risk homeowners can take now to secure coverage...