Lack of earthquake insurance could cause problems for the Bay Area

October 16, 2014October 14, 2014 Logan B.

San Andreas Fault Line California earthquake insurance

RMS report highlights dangers for the property insurance sector in the San Francisco region The San Francisco region may be struck by a powerful earthquake in the coming years, and the potential damage such a disaster could cause may not be covered by insurance. RMS, a risk management firm serving the insurance and reinsurance industries, has released a new report that highlights the impact that earthquakes may have on the insurance sector. In California, earthquake insurance is becoming increasingly rare, as consumers and businesses alike begin seeing this type of…

Flood insurance rates spike in California

November 21, 2013November 19, 2013 S.Vagus

California homeowners may soon contend with higher flood insurance premiums A sudden increase of flood insurance rates in the U.S. may soon force people from their homes. Rising flood insurance costs have become quite common in states like Florida and Louisiana, both of which experience a high degree of exposure to natural disasters. Homeowners in the San Francisco Bay Area may be feeling a great deal of financial pressure from the latest hike in flood insurance rates, however. For many, this coverage may soon become too costly to manage. Rates…