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BIZARRE: 2 - What They Never Told You

Just before wildfires hit, California told insurers to cover homes in risky areas—in exchange for passing on more costs

Insurers can incorporate reinsurance costs in their calculations for what they will charge consumers.

Fortune

Devastating LA Fires Expected To Push Up Insurance Premiums

The fires ravaging upmarket Los Angeles districts Pacific Palisades and Malibu will be the most expensive ever to hit California, according to experts, who expect premiums to rise in a region already abandoned by many insurers.

International Business Times

California bars insurers from dropping fire victims until 2026. What to know

As the Palisades and Eaton fires wreak havoc on Los Angeles, the state insurance commissioner is taking action to protect home insurance policy owners

The Independent UK

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California Insurance Commissioner Calls For Home-Hardening Grants

California's Insurance Commissioner advocates for home-hardening grants to enhance wildfire resilience and protect communities.

Top News

California Fair Plan Protected After Devastating Fires

California Insurance Commissioner Ricardo Lara ensures Fair Plan's stability post-fires, offers support to affected residents.

Top News

California Insurance Commissioner Halts Fire Insurance Cancelations For One Year

California Insurance Commissioner Ricardo Lara implements one-year moratorium on fire insurance policy cancelations to support homeowners affected by recen...

Top News

After the fire, the insurance battles: LA victims’ ordeal may just be beginning

‘Now we have to make sure there’s not a second, financial tragedy that follows the physical catastrophe,’ says consumer advocate

The Guardian - US

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The LA wildfires will cause chaos for California’s home insurance market

New rules allowed climate change consideration in premiums

The Independent UK

California Insurance Commissioner Urges Residents To Prepare For Wildfires

Learn about California's insurance crisis amid wildfires, steps for expedited claims, and reforms for coverage in high-risk areas.

Top News

A Failed State

Plus: Israeli hostage update, ultraprocessed childhoods, and more...

Reason

California will soon require insurers to increase home coverage in wildfire-prone areas

California will start requiring property insurers to increase coverage in wildfire-prone areas after homeowners across the state increasingly struggle to find policies

The Independent UK

State Farm Threatens to Abandon California If They Can't Raise Prices: 52% For Renters, 30% For Homeowners

High inflation and rising California fires have led State Farm to propose homeowners insurance rate hikes. At the same time, many insurers remain hesitant to return to the state due to rapid climate change.

International Business Times UK

California Won't Let Homeowners Insurance Companies Raise Rates, so They're Leaving the State Instead

Giving the state control over insurance rates turned pricing into a Byzantine regulatory process.

Reason

How are people supposed to rebuild Paradise, California, when nobody can afford home insurance?

Efforts to rebuild a California town nearly wiped out by wildfire five years ago are being stymied by high home insurance costs

The Independent UK

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The Independent UK

Things to know about California's new proposed rules for insurance companies

California's insurance commissioner says he will write new rules for insurers in the nation's most populous state

Tribune News Service

Car insurance premiums based on job, education can ding low-wage workers

New Jersey resident Anna “Cuqui” Rivera, a high school graduate who works as a labor and civil rights activist and moonlights as a DJ, was paying almost $3,000 annually for auto insurance with one of the big companies. Now, she pays almost $2,000 less for coverage on her 2016 Jeep.

Tribune News Service

California lets Allstate hike rates — but insurer still won’t write new home policies

Allstate has received California’s blessing to raise homeowner insurance premiums 4%, but the state’s fifth largest home insurer said it has no plans to reverse its decision last fall to stop writing new policies.

The Independent UK

California insurance market rattled by withdrawal of major companies

Two insurance industry giants have stepped back from the California marketplace

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McClatchy Washington Bureau

Junipero Serra statues have come down in California. Why does the state still have one in the US Capitol?

WASHINGTON — Kevin McCarthy chose his favorite spot in the United States Capitol for his first news conference as speaker of the House: in front of a tile marking where Abraham Lincoln sat.

The Independent UK

Fire-stricken rural New Mexico warily eyes insurance fight

Manuel and Marcy Silva combed through the charred rubble that used to be their home, searching for any salvageable bits in the wake of the largest wildfire in New Mexico history

Los Angeles Times

California to mandate insurance discounts for wildfire mitigation efforts

LOS ANGELES — California will become the first state in the nation to require insurance premium discounts for owners of homes and businesses that are made safer from wildfires.

Los Angeles Times

Novice Republican or Democrat embroiled in controversy? California voters to pick next insurance commissioner

SACRAMENTO, Calif. — California voters will decide this November who will lead a state agency that wields significant power over home, auto and other insurance policies, selecting between an incumbent Democrat embroiled in controversy and his novice Republican challenger.

Los Angeles Times

Despite scandals, key California politicians glide toward reelection. Here's why

SACRAMENTO, Calif. — A California insurance commissioner who billed taxpayers for long-distance living expenses and broke a vow not to accept campaign donations from members of the industry he was elected to regulate.

The Independent UK

Insurers say California's inaction threatens auto policies

Top U.S. insurance companies and associations say California is risking a crisis in the nation’s largest automobile insurance market by refusing to approve rate increases since the start of the coronavirus pandemic

The Independent UK

California to again protect insurance policies in fire areas

California has temporarily banned insurance companies from dropping customers in areas affected by recent wildfires, a day after evacuation orders were lifted for residents near a two-week-old blaze

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