Tag: California business insurance

What Types of Business Insurance Does an LLC Need?

Nordstrom
business insurance what types and what is needed

A limited liability company (LLC) is a preferable business structure due in part because of the level of security it offers owners when it comes to their personal assets and personal privacy through a third party registered agent. But while you’re able to limit your personal liabilities, your business assets are still without protection against a variety of possible unfortunate events. The good thing is that there are things you can do to minimize the risks that come with your LLC — one of these is investing in necessary business…

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Edison must pay insurers $1.16B for Thomas Fire and Montecito mudslides

Nordstrom
Thomas Fire - Money burning

The power company announced the settlement of the lawsuit with insurance companies. Southern California Edison has announced that it has reached a settlement with insurance companies that sued it over the Thomas Fire and Montecito mudslide disasters. The utility will pay $1.16 billion to insurers over the disasters in Ventura and Santa Barbara counties. Edison announced this settlement in a news release in which it explained that the agreement was not an admission of any wrongdoing or liability. “We are making significant progress toward resolving wildfire-related litigation,” stated president and…

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California wine country flooding leaves thousands of homes and businesses damaged

H. Cutner
California wine country flooding - Vineyard at Sunset

The floodwaters have turned two communities in Northern California into temporary islands. California wine country flooding is the worst the region has seen since 1995 when the Napa river reached record peak levels. The rain in Northern California has turned two wine country communities into temporary islands. At the moment, they can be reached only by boat. Thousands of homes and businesses are flooded as rivers across the region crest their banks. The Russian River crested at over 46 feet last week and the water did not recede until later…

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20,000 California doctors see a decrease in their business insurance premiums

Medical Malpractice Insurance

Rate regulation decreases these rates by an additional $21 million. Should a pending ballot initiative pass, patients in California will receive the same level of protection against health insurance premiums that are deemed unfair as doctors are receiving through their business insurance. The Department of Insurance in the state has announced that it will also be using its prior approval rate regulation authority to decrease the premiums for medical malpractice insurance for the approximately 20,000 medical professionals who are covered by The Doctors Company. The decrease in rates should total…

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Senate Health Committee passes SB 1431 with the praise of Insurance Commissioner Jones

California life Insurance Commissioner Dave Jones

Insurance Commissioner Dave Jones has announced the passage of a bill for the regulation of stop-loss coverage to small businesses. Jones has given his applause for this change to the California insurance industry, as the state Senate Health Committee passed SB 1431, which places a minimum number of aggregate and individual attachment points and which bans the exclusion of workers on the grounds of health status during the sale of stop-loss coverage for self-insured employers of 2-50 people. The bill passed by a 5 to 3 vote. It was authored…

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