Insurers’ Rule Change Puts California Homeowners on the Hook for L.A. Fire
A large chunk of the cost of rebuilding after the Los Angeles wildfires is likely to shift to insurance customers throughout the state, under a little-noticed rule change last year by California’s insurance regulator.
California Home Insurers That Denied The Most Claims
Some of the biggest insurers in California had the highest number of national claim denials in 2023, according to Weiss Ratings.
Will California insurance reforms be enough to stop insurers from leaving?
California Insurance Commissioner Ricardo Lara said new regulations will keep homeowners insured. Some of the new efforts give insurance companies more leeway in raising rates, while allowing them to use computer modeling to forecast risk and to incorporate their own “reinsurance” costs from backup providers in setting future premiums.
L.A.-based Farmers tops survey of big California home insurers that decline the most claims
Weiss Ratings issued a report alleging that Farmers Insurance and other California insurers reject nearly half of claims from state homeowners. Insurers have disputed the findings.
California’s Insurance Crisis Leaves 806,000 LA Homes Without Coverage
Los Angeles is experiencing a severe homeowners insurance crisis, with over 800,000 homes currently lacking coverage. While insurance companies are being criticized for the shortage of policies, the root cause may be a 1988 California law known as Proposition 103.
Insurers balk at $19.7M claim on fake Basquiat paintings seized by FBI
Two insurance companies have asked a court to block a $19.7 million claim by owners of more than two dozen forged Jean-Michel ...
Thousands of Los Angeles homeowners were dropped by their insurers before the Palisades Fire
About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.
Top three insurers reaped $7.3 billion through their drug middlemen's markups, FTC says
Regulators published their most detailed findings yet on how some of the nation’s largest companies profited from ‘excess’ ...
Hurricane horrors and continued premium increases: Insurers face skeptical lawmakers
Inflation — specifically rising home replacement costs — is emerging as the new culprit for why home insurance premiums ...
L.A. Fires Could Cost Insurers $30 Billion, According to New Forecast
Estimates of the losses to insurers from the Los Angeles wildfires increased as the blazes spread. Morningstar DBRS analysts ...
The little-known way some insurers try to stay ahead of wildfires
Insurers hire companies like Wildfire Defense Systems to protect structures. It's an attempt to blunt the economic impact of ...
How one of Europe’s largest insurers is trying to make waves with Gen Z
The 150-year-old insurer has weathered wars, pandemics, and natural disasters in its lifetime. Its next task: appealing to ...
Los Angeles fire losses could reach $30 billion for insurers
Multiple fires raging across the Los Angeles area will cost insurers as much as $30 billion, Wells Fargo and Goldman Sachs ...
Insurers can help businesses mitigate the growing risk of cyber threats
In this challenging landscape, insurers can not only offer tailored cyber insurance policies but also encouraging the ...