PARADISE, Calif. — Two insurance industry giants have pulled back from California's home insurance marketplace, saying that increasing wildfire risk and soaring construction costs have prompted them to stop writing new policies in the nation's most populous state.State Farm announced last week it...
By Aarthi Swaminathan
'It's making it unaffordable to live,' says one Florida homeowner
When Carlee Simon, 46, moved to Alaska from Florida for a new job in May, she was in for a pleasant surprise: Her home...
California Insurance Commissioner Ricardo Lara does not plan on taking any action against State Farm after the insurance giant announced it was no longer accepting applications for new home insurance policies last month. "Absolutely not," Lara told KCRA 3 in an interview on...
Allstate has joined State Farm in pausing its sales of new home insurance policies in California due to wildfires and higher costs of doing business in the state, the insurance company said."The cost to insure new home customers in California is far higher...
