As some Californians continue scrambling for ways to affordably insure their homes, Gov. Gavin Newsom on Friday announced a push to expedite how quickly insurance companies can increase rates.
Tag: homeowners insurance CA
Another Insurer Leaves California
Farmers Direct Property and Casualty Insurance Co. stopped issuing new policies as of Sept. 15 in the state, Director of External Communication Luis Sahagun said in an email, citing “an ongoing initiative to increase operational efficiency and mitigate risk exposure.”
Homeowners in California Could Continue to Lose Coverage
Judy Osborn learned she’d been dropped by her home insurance company almost a year to the day after evacuating during the devastating CZU Lightning Complex fires in August 2020. Her two-bedroom house in the Santa Cruz Mountains had become too risky to insure, according to her provider, and Osborn was forced to look for a… Continue reading Homeowners in California Could Continue to Lose Coverage
California State Regulators Unveil Wildfire Safety Plan
California is implementing a three-pronged approach dubbed “Safer from Wildfires” to reduce the wildfire risk of older homes, including measures to harden homes, their immediate surroundings and the communities they are in. California has existing wildfire building standards for homes built after 2008. But as catastrophic megafires drive up the cost of insuring homes and… Continue reading California State Regulators Unveil Wildfire Safety Plan
Amwins Experts Offer Tips to Obtain Hard-to-Get Wildfire Insurance
Historically, wildfires have been considered a California-centric risk exposure and with good reason as the top 10 costliest wildfires in the United States have occurred in the state—eight within just the past five years, according to the Insurance Information Institute. Wildfire risk exposure, however, is not limited to California. Forty-five of the 50 states have… Continue reading Amwins Experts Offer Tips to Obtain Hard-to-Get Wildfire Insurance
California State Regulators Unveil Wildfire Safety Plan
California State regulators rolled out a “Safer from Wildfire” program Monday to encourage rural residents and business owners to gird their properties as a way of fixing the insurance crisis that’s plagued the Sierra foothills and other fire-prone areas the past few years. The plan unveiled by Insurance Commissioner Ricardo Lara is designed to entice… Continue reading California State Regulators Unveil Wildfire Safety Plan