Despite high fire risk, the state's average home insurance rate is $1,225 per year for $250,000 in dwelling coverage, about 14% lower than the ...
Source link
A week after negotiations to rescue California’s floundering home insurance market stalled out in the Legislature, the state’s top insurance regulator put out his own rescue plan that effectively amounts to a trade for the state’s major insurers.Under proposed regulations Insurance Commissioner Ricardo...
Insurance Commissioner Ricardo Lara unveils a plan to shore up the California insurance market for homeowners.
CALIFORNIA, USA — This story was originally published...
California will let insurance companies consider climate change when setting their prices, the state’s chief regulator announced Thursday, a move aimed at preventing insurers from fleeing the state over fears of massive losses from wildfires and other natural disasters.Unlike other states, California does...
SACRAMENTO, Calif. >> A new plan from California’s insurance commissioner aims to stop the nation’s top insurers from leaving the wildfire-prone state by letting them consider climate risks when setting their prices.
Unlike most states, California tightly restricts how insurance companies can price policies....
Published: Sep 21, 2023
WHAT TO KNOW: The executive order urges Insurance Commissioner Lara to take swift action to address issues with the insurance market and expand coverage options for consumers, while maintaining strong consumer protections and keeping plans affordable.
SACRAMENTO – As climate change continues...
